Crashing Oil Prices Threaten To Destroy Already Fragile Economy: “More Job Loss, Debt Defaults”

This article was written by Michael Snyder and originally published at his Economic Collapse blog.

Editor’s Comment: As if there wasn’t already enough bad news, there is a clear indication that things could quickly get much worse. The first couple rounds of falling oil prices have already leveled jobs in the United States, and threatened to bring Venezuela, Saudi Arabia and other oil-dependent states to their knees.

Now, another crash in oil prices could finish the job. It is just the sort of incendiary that madmen spreading fires could use to topple everything into ashes, and pick up the pieces for control. If these prices dip as low as they did before, and stay low for as long as they did, they could wipe


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