Oil Price Collapse Signals Global Economic Crisis of 2016 – – Recession Very Likely This Year
A floor in the price of oil commodities remains elusive, as Brent Crude touches 28 dollars per barrel. With expectations of another half-million barrels per day soon to enter the already over-supplied oil market due to the lifting of sanctions on Iran, combined with a slowdown in China’s economy, forces exerting a downward price on oil are strengthening.
The oil price collapse with strangle a large part of America’s shale oil industry, while devastating debt-laden oil exporting countries, with Venezuela in particular facing default. Inevitably, the implosion in oil prices will hit major financial institutions with exposure to loans connected with either oil exploration and extraction, or sovereigns dependent on oil export income for most of their governmental financing. This all points to the high likelihood of a global recession in 2016.
DONALD TRUMP 2016: America’s Next President? is available on Amazon: http://www.amazon.com/DONALD-TRUMP-2016-Americ…/…/B0156PAAVM
