Iraq Breaks Down, Oil Surges

The situation in Iraq is serious, and is probably going to get worse before it gets better. The potential for this recent action to morph into a regional conflict is very high. That that means that oil could go a lot higher, and if it does, we can expect the odds of a global economic recession and an attendant financial crisis to go up considerably from here.Before we dive into what's actually happening over there right now, I need to begin with a longer and deeper historical context of the region, which is essential to understanding pretty much… Read more...

Read more from the original source: 
Iraq Breaks Down, Oil Surges