wishing for $150/barrel oil, and cheering a stock market crash
I don’t think anybody wishes for them ( not that it matters). Most are trying to discern some silver lines in the dark clouds.
The high price of oil is good as a fire drill to prepare us for the inevitable exhaustion of fossil fuels.
Secondly, it is catalyzing the deleveraging of the debt bubble. The debt levels were getting unsustainable and needed a nucleating event to trigger the unraveling.
There will be enormous pain due to restructuring of the economy. But this is still better than what people suffer during revolutionary changes like Soviet meltdown or WW2.
