Prophetic words from the world of metals in 2008

Painful as an office move can be, it’s not as bad as moving house, and it gives one an opportunity to have a good clear out, or send stuff off to the archive for long-term storage.

In finishing packing up my desk this morning, I came across some very prophetic words in my notes from a US ferroalloys trader from March 12, 2008. He said: "The fourth quarter will be the real litmus test in terms of recession, especially if the US is in a bit of a slump."

And that was a full six months before Lehman Brothers was allowed to go bust.

Looking at my notes, I see that everyone else I spoke to that day was predicting things would move in one direction only: up.

I wonder what this source is thinking today.

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