Sunday, May 27, 2012

Oil is why we cannot grow our way out of debt

Whatever happened to $200 oil? - The Globe and Mail: "By the time oil reached $147 a barrel, the economic drag was more than sufficient to trigger a chain reaction of events—including spurring higher interest rates which pricked the U.S. sub-prime mortgage bubble—that ushered in the deepest global recession of the post-war era. "

'via Blog this'