In a truly alarming development, Saudi Arabia is gearing up for all-out crude oil war in the Middle East.
Right now, the world is in a deflationary state.
While countless other outlets have gone on endlessly about inflation, we have warned repeatedly in these pages that the "D" word is not dead. U.S. Treasury bond yields, a harbinger of deflation, have been falling, not rising. Now the broad markets are falling too.