From Times Online: In the cycle of boom and bust that has characterised the global economy over the past decade, commodity prices have played a central role. The Western industrial economies cannot now escape recession.
The recent precipitate collapse in oil prices is, however, an isolated source of encouragement as businesses and consumers brace themselves for the gathering storm. Three months ago oil prices reached almost $150 a barrel. Yesterday they traded at just over $60. In normal times, oil prices act as an automatic stabiliser….. Full Article: Source