From a report by Reuters.

LONDON January 22nd

Oil fell by more than $4 US on Tuesday to a new six-week low as global stock markets swooned on the growing prospect of a US-led economic recession.

US crude fell as low as $86.11 a barrel, down $4.46 on Friday’s price.

London Brent crude fell $1.73 to $85.78 .

The trouble is that America’s problems riccochet round the World in no time. Stock markets suffered great losses around the World.

Yet again the World’s poorest countries will suffer. The bottom has also fallen out of the commodities markets. So what? The poorer countries are where much of our copper, tin, aluminium, zinc, oil and of course uranium come from.

Mr Bush has done his best to save the poor countries from themselves, so what next?

“Nil desperandum carberundam” . Which used to be freely translated as “Don’t let the b—–ds grind you down”. Just change that one word to the name of the super-power of your choice.