I guess I’ll add that the low price of energy (for now) is going to help ease some of the world’s pain. The Saudis for some reason have kept up production even as prices drop. They may be trying to mess with Russia, mess with Iran, or even trying to undercut the growing US Fracking industry, but the bottom line is lower energy prices definitely help prop up the global economy. Obviously that could easily change by mid-2015.
I guess that reading the actual linked article, Levy is predicting a 65% chance of recession by the END of 2015, which seems reasonable, if perhaps a tad high to me. I’d probably say 50-50, but the margin of error on such projections is high enough those are definitely in the same ballpark.
