Oil prices tumble, so too interest rates. What’s not to like? Well, it seems quite a bit as of late. In fact, this week’s plunge in oil prices and swoon in interest rates were cited as the direct cause and consequence, respectively, of the collapse in equity prices.
As if falling oil prices should always be greeted as a good thing. When did gas last go below $1.75 per gallon? December 2008. We weren’t exactly dancing in the streets then either.