bitcoin4all on Nostr: In July 2008, oil hit $147 a barrel which is still its all time high. That was likely ...
In July 2008, oil hit $147 a barrel which is still its all time high. That was likely one of the straws that broke the back of the global economy. The price of oil is upstream of almost everything else in our society. Inflation adjusted (if you take CPI at face value) we would have to hit $214/barrel today to surpass that number. I’m not sure what I’m struggling with more, that much inflation over the last 18 years or that it looks like we might be making a run to break the previous ATH.
Published at
2026-03-09 03:02:32 UTCEvent JSON
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"content": "In July 2008, oil hit $147 a barrel which is still its all time high. That was likely one of the straws that broke the back of the global economy. The price of oil is upstream of almost everything else in our society. Inflation adjusted (if you take CPI at face value) we would have to hit $214/barrel today to surpass that number. I’m not sure what I’m struggling with more, that much inflation over the last 18 years or that it looks like we might be making a run to break the previous ATH. ",
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