Do Rising Oil Prices Predict Another Economic Recession?
The year 2008 saw the American economy topple over like a towering stack of light weight cards with the financial and market crash. The recession changed the economy of the country and left many people without jobs and means to sustain their families. More houses were put on foreclosure than ever before, leaving an even larger number of families homeless and destitute with no one to bank on. The initial contention was that the primary reasons for the recession that hit the country in 2008 was the downfall of the financial services market and the housing market. More and more financial experts came forward with another, more accurate reason for the financial crash. The reason put forward and accepted widely was that the market financial crash was caused by the high oil price rise which shot to an all time high of $147 per barrel in the year 2008.
Commodities
ResponderExcluirCrude Oil 104.31 + 0.04%
Natural Gas 4.38 + 0.53%
Gasoline 3.07 +0.12%
Heating Oil 3.04 +0.12%
Gold 1422.79 + 0.29%
Silver 37.42 + 0.81%
Copper 4.34 +0.12%