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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: quehubo who wrote (112720)10/28/2008 10:05:51 PM
From: Ed Ajootian  Read Replies (2) of 206191
 
que, my thinking is that the current recession is going to be worse than the '80-'82 recession (which until this one was the worst recession in the last 30 years). That period was similar to the current one in that oil prices had skyrocketed in the year or so before the recession (extending their rise during the start of the recession). As shown by both the WTRG and the EIA graphs, US consumption did not bottom out until early '83, even though oil prices had been steadily declining starting more than a year earlier.

I don't think its very productive to think about this subject in anecdotal terms, I think its more helpful to look at past history as a clue to what might happen next.
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