Via Barry Ritholtz:
Nothing has been a more reliable indicator for an upcoming recession as the price of Oil. Every major bear market, every major economic decline has been preceded by a large spike in oil prices. The 73-74 recession, recession of beginning 80's and the recession of 2000. Oil prices jumped 80% between 1999 and 2000. Oil prices have been the most important indicator of major economic disasters. Whenever Oil prices rise about 80% from year ago levels, a fair chance does exist that a recession/bear market will follow.Chris HayesJune 26, 2008
Via Barry Ritholtz:
Nothing has been a more reliable indicator for an upcoming recession as the price of Oil. Every major bear market, every major economic decline has been preceded by a large spike in oil prices. The 73-74 recession, recession of beginning 80’s and the recession of 2000. Oil prices jumped 80% between 1999 and 2000. Oil prices have been the most important indicator of major economic disasters. Whenever Oil prices rise about 80% from year ago levels, a fair chance does exist that a recession/bear market will follow.
Latest from the nation
Today 12:32 pm
An Argument Against Voting for the “Electable” GuyElie MystalToday 11:26 am
War Week 1Steve BrodnerToday 9:58 am
A Conflict Without Reason Has Become a Dangerous Holy WarJeet HeerToday 9:30 am
Israel Is Using Its Genocidal Gaza Playbook on IranSéamus MalekafzaliToday 8:30 am
RFK Jr.: America’s Snake Oil SalesmanJosh Gosfield
Chris HayesTwitterChris Hayes is the Editor-at-Large of The Nation and host of “All In with Chris Hayes” on MSNBC.