Why may the next recession feel very different than 2008?

Why may the next recession feel very different than 2008?

The “next” recession will be deeper and broader than 2007. The value of the US Dollar will plunge, and when that happened during the 2002–2008 period, the Dollar lost 45% of its value. Just like travelling to Europe became more expensive due to the falling dollar, so too did the cost of buying crude on the global markets. And that won’t change. During the Bush years, the price of gas at the pump roughly quadrupled. Imagine gas going to $10/gal or even more during the next recession and ask yourself what kind of impact THAT will have on the economy. Think about it...

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