Zeev's Turnips Patch-No Politics (ZEEV)

[Ace Hanlon]

I do not always agree with Zeev, but he is far from a permabull.

Monetary tightening in the US and China is bound to bring oil prioes down before long. The initial drop probably will be modest, but prices should really slide as the global economy enters a recession late this year or early 2006.

Sliding oil prices will not prevent a severe bear market in stocks although the intital drop probably will trigger a modest bounce on Wall Street.