Tuesday , 28 May 2024

Tag Archives: higher gasoline prices

The Premise That Higher Oil Prices Will Cause Inflation and/or a Recession is Wrong! Here’s Why

The classic argument is that, because 70% of the economy is driven by consumer spending, an increase in gasoline prices will cause a decrease in consumer spending, which will cause an economic decline. [My research, however, indicates that] the premise that higher oil prices will cause inflation and/or a recession is wrong. [Let me explain why that is the case.] Words: 1097

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