Will soaring oil prices bring recession?

[RSS News]

The price of oil has surged to a new high, raising fears about the the US economy. Can the world avoid recession?

(Feed provided by BBC News | Have your Say (http://news.bbc.co.uk/go/rss/-/2/hi/talking_point/default.stm))

[Organic Revolution]

Humm diddly humm.. This ain't quite a news story, and the collapse of oil will lead to more than a recession.

Discuss, fools.

[ckaihatsu]

The drying up of the markets simply shows that the need for capitalism is at an ebb -- therefore the most essential needs for resources are exposed -- oil and basic commodities -- and thus it becomes a hot market / refuge for capital, driving up speculation and prices.

This kind of period makes it easier to argue for a socialist economy, where speculation and bloated prices could be avoided through the implementation of central planning, with collective workers' oversight.


Chris


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[Mariner's Revenge]

High oil prices will, in the long run, bring innovation and bring new ideas in terms of transportation. That is not always good though, for example, we should see the suburbs switch with the urban areas in a few decades which will totally screw over the poor.

[KrazyRabidSheep]

Will soaring oil prices bring recession?
Uhh. . .the recession's already here! :(

[punisa]

High oil prices will, in the long run, bring innovation and bring new ideas in terms of transportation. That is not always good though, for example, we should see the suburbs switch with the urban areas in a few decades which will totally screw over the poor.

I think you have a good point there.

[Psy]

High oil prices will, in the long run, bring innovation and bring new ideas in terms of transportation.

With the bureaucratic nature of modern capitalists I doubt it, odds are capitalists will cannibalize the means of production like Russian capitalists after privatization.

[Lost In Translation]

hmm...will the world face recession.

If we all sanction off the US, we won't :laugh::laugh:

But I really think there's a strong chance that we'll face another Depression. :crying: