Yes, I thought $4 a gallon gas was a part of the 2008 troubles. Now potential $1 a gallon gas is part of the 2016 troubles.
Well, for one thing, banks are very exposed in the domestic oil patch which is being destroyed by low oil prices and, now, the sudden introduction of oil from Iran. At the same time, lower oil prices are seen as a global indication of arrested growth in general and that undermines the market.
I the mean time, beef prices are up because corn prices are up because we were lied to about oil resources and idiots redirected food into fuel. The entire “peak oil” pushed by Liberals in order to manipulate our behavior and restrict the free market was a lie.