| We’ve had just over six years of quantitative easing. So how’s that working out? The US oil benchmark, West Texas Intermediate, has dipped below $US40 a barrel, its lowest level since 2009, the year QE kicked in. The Dow lost 1000 points last week, its worst weekly fall since October 2008 (the month after the Lehman Brothers collapse kicked off the GFC).
On Friday copper lost another $US50 to close at $US5040 a tonne; that day, and on Tuesday, it dipped below the critical $US5000 mark. Aluminium fell to a new low of $US1555/tonne. Nickel is back up over $US10,000 but, as it fell to $US9100 the week before, the reports are that traders are sitting on their hands waiting for another big dip. As it was, the metal lost $US215 on Friday to close at $US10,120/tonne. Tin dropped $US400 on Friday, closing at $US14,895/tonne...............................................Full Article: Source
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