Zeev's Turnips Patch-No Politics (ZEEV)

[osprey]

$100 oil/barrel would sink the stock markets and the US economy. All oil shocks in the past were followed by recessions. No reason why it should be different this time. Between high gasoline, high heating oil next winter, and people locked into high priced housing with imaginative no down loans, it strikes me that a lot of people must be getting stretched pretty tight.

Will the rubber band finally break? FWIW, I don't have any idea if $100 oil will be here by end of year. Right now we are in terra incognita and all that is known for sure is that the world seems to be more messed up than usual and it is usually pretty messed up.