far more significant role in pushing the global economy into a recession than the sub-prime mortgage meltdown in the US, said Canada’s CIBC World Markets. The report, “Just how big is Cleveland?”, challenges how falling property values in US inner-cities like Cleveland could create a recession in Japan and the Euroland economies, before even causing…
MARKETS: Bank says 500% increase in oil prices since 2002 may be the key driver behind global recess
Posted on November 24, 2008 by EnergyAsia