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Wednesday, November 16, 2011

Oil Hits $100 -- Is It About To Kill The Economy Again?


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Wednesday, November 16, 2011
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Oil Hits $100 -- Is It About To Kill The Economy Again?

The big news of the day: OIl has once again hit $100 per barrel.

Unfortunately this comes at a time when the economy is behaving unimpressively already.

And in fact, there's a decent history of oil price spikes preceding recessions.

It's not every recession, and not every oil surge has caused a recession, but as you can see in this chart of monthly crude prices going back a few decades, there's definitely a relationship between the spikes, and the grey shaded bars that indicate recession.

Note: This monthly chart from the St. Louis Federal Reserve is not updated with the current price. The point is to show the history of oil spikes and recessions.

Read »


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