Talking Point #1: What’s the risk of recession and a demand led collapse in oil prices over the next 12 months?
EG: I continue to believe fears of recession are overblown in the US. In fact, I’m seeing some tentative signs the US economy is stabilizing and we may see some improvement in data over the next few months.
I think it’s important to start with one key question:
What’s a recession?
Recessions represent persistent and widespread weakness in the US economy, not just minor softness or weakness focused on one or a handful of sectors.
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Elliott and Roger on Aug. 31, 2021
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