This is not a new crisis – this is the deferred effects from 2008. We have bought ourselves some respite at an enormous price. The question that’s real important to me – what effect will that have on energy prices and especially on oil. What if the world enters prolonged depression and oil consumption goes down permanently? Prices would tank, but then again those lower prices would stimulate the market and … If your economy is strong – you will suffer but sail through. But how will those dependent of exports (anything really) fare?
The OECD’s composite leading indicator fell to just 99.3 points in November, its lowest since October 2012, and down from a peak of 100.5 at the end of 2017.