mousepad wrote: It's the roller coaster that makes the recession, not the high [oil] price.
You are welcome to blame the upcoming recession on a roller coaster if you like. That explanation is a lot more fun then my explanation, which is pretty much a conventional mainstream economics explanation.
Personally, I'm going to stick with what I see happening right now in the USA ....I see high oil prices and high inflation that took off on Biden's watch .....I see these things have all kinds of bad effects on the economy. For instance, the inflation in gas prices and other things is triggering the FED into raising interest rates in an attempt to force inflation back down.....which is collapsing the stock market and hurting other parts of the economy......which almost always leads to a recession. Some say the FED actually WANTS to trigger off a recession in order to cool down inflation. And thats all going on right now out in the real world ...... YOU can watch it happening step by step every day if you follow the news.
And I see these things fit Colin Campbell's model for peak oil which is multiple boom and bust cycles in the economy, with the busts caused by spikes in oil prices when the supply gets tight, followed by recession when oil demand drops, followed by another cycle of growth followed by another bust...etc. etc. until there isn't enough oil to keep it all going. Hopefully we'll have switched over to nuclear energy or something when we get to that point, but I don't really see that happening anywhere in the world.
But if only it was really was a roller coaster......that would be so cool!!
Recession.....Wheeeeee!........down DOWN D O W N ..... here we COME!!!!!
Cheers!