The Crashing Price of Oil - Bad News for Economy
Written By: Michael Snyder | Posted: Friday, January 30th, 2015
TheEconomicCollapseBlog.com
If you were waiting for a "black swan event" to come along and devastate the global economy, you don't have to wait any longer. As I write this, the price of U.S. oil is sitting at $45.76 a barrel. It has fallen by more than 60 dollars a barrel since June. There is only one other time in history when we have seen anything like this happen before. That was in 2008, just prior to the worst financial crisis since the Great Depression. But following the financial crisis of 2008, the price of oil rebounded fairly rapidly.
Sign into your account to read the rest of this article. »
|
