http://thesovereigninvestor.com/exclusives/10-oil-in-2016-u-s-economy-doomed/?z=463472
2 replies (most recent on top)
Ignorance.
Oil directly employs less than 1% of the US workforce and indirectly only controls a little more than that. Banks going under only affects highly leveraged companies like WFT (or highly leveraged people). This article seems like simplistic fear mongering written by someone closely tied to oil/banking. US has plenty of other industries to fall back on. I don't want to see oil fall any farther but it's not the end of the world.