In early 2014, Bob Hoye, a Vancouver-based financial analyst, predicted that oil prices had nearly peaked and soon the price would fall up to 75%, reports Maclean’sWith oil trading under US$30 lately, his prediction has come true.

Now, Hoye says that the U.S. economy in recession, and he’s working to pinpoint exactly when it started. Some of the factors that have convinced him of a recession include falling industrial output, the recent stock market dives, and a slowdown in U.S. consumer demand, Maclean’s writes.


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