Friday, April 8, 2011

Will Expensive Oil Cause Another Crash?

The last time the price of oil topped $100 a barrel for an extended period, we ended up in a global financial meltdown. Is this time any different?

Not much.

All of the excessively financial leverage and fraudelent derivative wealth we had during the last melt down is still in place. Total debt to GDP levels in the US are about the same (370% of GDP or so).

Posted by CP at 11:52 AM

1 comment:

whydibuy said...

Everyone in the bomb bunker. The sky is falling,lol.

2008 was caused by the gov, namely paulson, cutting credit off for the wall street money centers and leaving lehman hung out to dry.
Won't happen ever again. Count on it.

As usual, always those still fighting the last war and not progressing to current times.

April 8, 2011 at 12:09 PM

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