The grim reaper still sharpens his scythe waiting for China to implode economically, not as a result of the trade war but rather because the economic soup it has been cooking for decades now starts to turn sour. Oil and many other energy markets will crash because they still hope that Chinas sucking sound will deafen them forever. But it won’t. It’s not too late for a dangerous childhood.
Crude prices fell to the lowest level in almost a week as China warned of “serious challenges” to the global economy and the U.S. government shutdown cast a pall over growth.