Thursday, December 20, 2007
Oil prices take over a year to feed through into general inflation and economy. 2008 is Oil crunch time with prices 50% up on last year.
Here's my fearless forecast for 2008: The subprime mortgage mess will be far less important to investors next year than the price of oil. The reason is simple: We don't sell our homes once a week, but that's about how often we fill up our gas tanks.