Peak of Erudition

Crude oil prices continue to tumble with more and more negative news flowing from US / Europe and other major asian economies. US automobile sales is dropping in two digit speed, Europe is also seeing major drop in their industrial activities, asian economies are seeing their export demands vanishing, and thus they are seeing their currencies weakening. All these are resulting in reduced demand for crude, and with the prices having crashed by nearly 60% in the last few months, many middle east oil producing countries which depend only on crude oil for their livelihood are forced to pump in more oil into the market, which is leading to further crash in prices. Now analysts have taken a U turn, and are predicting that the crude oil prices will touch as low as 30 dollars in few months. These same analysts of top notch firms were predicting few months back, that the crude oil prices will reach 200 dollars shortly. The tongue does not have bones, hence they twist easily, and take U turns. I was hearing some senior person murmuring, “TOO MUCH ANALYSIS LEADS TO PARALYSIS”.