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Tayyip Erdoğan, Turkey's right wing populist leader is reelected, the LIRA (TRY) drops to all time lows. Erdoğan vows to continue cutting rates while Turkey faces the worst inflation in over 20 years. A IMF bailout of Turkey cannot be ruled out. The Turkish economy has already collapsed.

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Oil price in three days has left its bear market, rising10%. Reasons: Banking sector bailouts and Central Banks expanding their balance sheets (once again). Plus, very concerning geopolitical tensions in the Middle East, Europe and South China sea; should keep the oil price bid over $70.

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Russia cuts off gas supplies to Europe, energy inflation is now that "imbedded" inflation. Oil price is bid on OPEC cuts. Russian oil caps may force Russia to cut all oil supplies to international markets. Should a Cold War part 2 be called?

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