The Last Time Oil Price Collapsed

That's right, the last time we found ourselves in this position was late 2008 and the start of the Global Financial Crisis. Michael Snyder provides the following analysis, read it and weep;

Guess What Happened The Last Time The Price Of Oil Crashed Like This

Now let's be careful, I'm NOT saying the oil price drop is causing anything, what I'm saying is it's indicative, a symptom of a wider malaise, a general lack of demand for anything. Why do people need more stuff ? We've got enough already.

Less demand, lower production, less employment, lower incomes; recession.

https://www.linkedin.com/pulse/last-time-oil-price-collapsed-ken-horlor?trk=prof-post