In his 1998 book, “The Roaring 2002’s”, demographics expert Harry Dent predicted that the large block of baby boomers in their peak earning years would cause one financial bubble after another. Since then, we had the tech bubble, a real estate bubble in the US, nearly an income trust bubble in Canada, Chinese stock market bubble, and now what looks like an oil and resources bubble. Just like the unlimited potential of the internet that led to the tech bubble, there are real explanations for oil’s rise, but they do not explain a price increase from $10 to $145/barrel. Read more…

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