Are Falling Oil Prices A Precursor To A Perfect Storm

Asylum Watch

It’s only natural, if people think about the economy at all, that people think only about their own nation’s economy. However, the era of globalization demands that we consider the world as a whole when we think about the economy. When someone sneezes in Madagascar, there will soon be a world-wide epidemic of the flu. The same analogy holds for economies.

Falling oil prices and, thereby, energy prices have been dominating the economic news of late. Oil prices have fallen over 50% in the last few months and the bottom has yet to be reached. Most people would say that, except for the oil companies and related industries, low energy prices should be a very good thing for consumers and for the world economy in general. Energy price is an important contributing factor in the price of almost every thing people buy. Therefore, the prices of everything should become more…

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