I can see BD has also started paying attention to intl oil prices and not ERC.
Another round of oil inflation is on the cards and CBs will yet again fight for local currencies as they get knocked about by USD demand for import bill cover. High oil prices, strong USD demand, stubbornly high inflation and you have an econ cocktail reading recession or stagflation.
This cocktail will keep a lid on NSE preventing recovery and soon the same theme will be on global stocks. Add a Greece default and the cocktail becomes poison.
Watch tbills, USDKES, fuel pump prices, power bills, CBR for a clue on how to shield your investments. I'd also be out of loans. At 82/83s USDKES is a buy for me. I still see the cross going back above 90s by year end. CBK cant print oil nor food. Those 2 commodities will cause havoc to many treasury ministries globally.
http://bit.ly/Ae9YrZ$15/barrel oil... The commodities lehman moment arrives as well as Sovereign debt volcano!