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Legendary economist Gary Shilling says consumer signals point to a recession in the next 12 months
(www.businessinsider.com)
this post was submitted on 07 Sep 2026
34 points (97.2% liked)
United States | News & Politics
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"Stagflation and high inflation is still a risk" geez that's the worst thing that can happen to the American consumer. The article doesn't mention it but we are still drawing on our oil reserves here in the USA. We will continue to do so because we DON'T PRODUCE ENOUGH AND NEED TO IMPORT. I'm still shocked the market hasn't gone crazy about this being a fact.
So what happens if we COMPLETELY USE UP ALL RESERVE OIL? Well let's talk about macroeconomics: the entire economy runs on oil. It's all dependent on oil. You may not like it and you may be in denial. But without oil the entire thing starts collapsing. We talked about this in April when the war started but people just kinda forgot about it? We're SLEEPWALKING towards catastrophic depression level event if we run out of oil. Imagine being out of a job and everything (food, clothing, everyday items taken for granted) increasing in price even though people can't afford to pay. Shit is scary!