The sharp decline in the Russian ruble has led to the public's faith in the ruble evaporating, says Rob Carnell, chief international economist at ING, who thinks the public seem "bearish".» Read More
Congressman Ron Paul (R-TX) chairs the House Financial Services Subcommittee, which oversees the Federal Reserve. I interviewed him last night on CNBC’s “The Kudlow Report”.
CNBC's Sharon Epperson discusses the day's commodities news. Crude closes above $100/barrel as fears in the Middle East grow and Libyan bombers strike a key oil port town critical to oil exports.
The Middle East crisis will lead to an 'energy shock' for the West, increasing stagflation, David Murrin, author of "Breaking the Code of History" and hedge fund manager, said.
There is rarely a happy ending when the price of crude jumps sharply, Stephen King, the chief economist at HSBC in London, said.
The world is going to become richer and richer as developing economies play catch up over the coming years, according to Willem Buiter, chief economist at Citigroup.
The spread between Brent and NYMEX crude is currently around $15 a barrel and according to Jim Bianco, the president of Bianco Research, this is due to one pipeline pumping crude from Canada into Cushing near Oklahoma City.
Oil could hit $220 a barrel if "Libya and Algeria were to halt oil production together," analysts at Nomura investment bank predicted.
Oil prices will need to rise another 50-60 percent before energy costs put a squeeze on consumers with the same impact as 2008, according to the fixed income team at Credit Suisse.
What were some of the worst inflation situations in history and how did they come to be? Click to find out!