An obsession with oil

Dating economic cycles is an imprecise science at the best of times, but it now seems fairly clear that the US and global economies finally found a durable bottom shortly after the outcome of the Iraq war became obvious. Since then, investor confidence in the ability of the world to finally enjoy self-sustaining economic recovery has been assailed by a series of widely publicised bogeymen. The first was deflation, next came jobless recovery, then a bubble burst in China and now it's the

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