The relationship is crystal clear, although I am left wanting to really dig in much more to find out of correlation is truly something significantly more than just that.
Just re-read your first graph, the one where you (or someone) did some circling and emphasizing. Might I note that the Great Recession was the first after the Gramm-Leach-Bliley Act, and therefore the first recession since the 1930s after the repeal of the Glass Steagall banking restrictions?
Given that the banks prior to the GR were able to lend at an incredible rate-thanks to the lending backing the investment banks were able to shift to the commercial banks-the enormity of the following collapse was almost inevitable. Which meant that the Oil Shock Recession of the '70s was that bad.
Not to worry. A bunch of shale and tight oil fracking companies are going bust due to the low prices, so those prices should start back up.
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The relationship is crystal clear, although I am left wanting to really dig in much more to find out of correlation is truly something significantly more than just that.
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Given that the banks prior to the GR were able to lend at an incredible rate-thanks to the lending backing the investment banks were able to shift to the commercial banks-the enormity of the following collapse was almost inevitable. Which meant that the Oil Shock Recession of the '70s was that bad.
Not to worry. A bunch of shale and tight oil fracking companies are going bust due to the low prices, so those prices should start back up.
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