It's not only the energy markets that threaten the 'low inflation' data now encouraging bondholders to keep buying... The published inflation data are surprisingly unsophisticated in so far as they compare current prices with a snapshot a year earlier. Just over a year ago, oil was every hedge fund manager's favorite speculation. ...read more

Those people who have saved for the future could soon form our own generation of bankrupted, Babushka pensioners... Twenty-five years ago the Russians found themselves in a hole. They had an official price for petrol (gasoline) of 1 ruble. But the cost of providing it, for example by buying it on world ...read more