John Rubino – Are We Ready For Another Oil Shock?

from Financial Survival Network

John Rubino of was on talking about the deteriorating situation in Iraq.

Unlike the 1970’s when the world economy was much stronger, can it withstand $150 or $200 per barrel oil? Probably not for too long. Did you know that China’s central bank is now the world’s largest holder of equities? How did that happen and what do they own?

Banks are now making low and no documentation loans to businesses. That will end about as well as no doc loans to homeowners did.

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