While politicians and economists might debate exactly what constitutes a recession, the reality of an economic slowdown is impossible to ignore. The most recent signal that Europe may soon face a recession comes from oil traders, who are selling European gas oil futures while buying U.S. diesel futures. It is not surprising that Europe is more at risk of a recession than the U.S. as it is hugely vulnerable to an energy shortage and will have to pass the high prices on to consumers. Recession has always been a politically sensitive word. Today, it has become so sensitive that some economists and politicians are trying to redefine it to make it lose some of its sting. The reality of a recession, however, is impossible to redefine. In Europe in particular, consumers are feeling the slowdown in economic growth in their wallets, and so are traders. There is one big […]