Bloomberg with the article on an article written by Brantham in which he argues that the oil pprice spike seen is always associated with recessions.
- oil-price spikes of this magnitude have always triggered recessions
- the global economy is at risk of much bigger challenges in the coming decades as finite commodities become scarce.
- “It seems nearly certain that the trend in resource prices will continue to rise,”
- That threatens not only slower growth but also a disruption of political systems, as “most ancient civilizations were brought down by overuse of their resources.”
Oh dear. The end of civilisation. I hate it when that happens. Good for the clicks though.
Link to Bloomberg is here