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The enormous decline in oil prices have made many headlines over the past year. The Dutch central bank (DNB) argues that lower oil prices are a ‘tax cut’ for businesses and good for economic growth. But is this true? In this article, I will look at the entire shale oil industry and show why the Dutch central bank's assumptions are wrong. When the next recession hits, we will be talking about subprime oil-loans, instead of subprime mortgages. The American shale oil crisis will take the world economy over the cliff into an abyss. Oil is the new subprime.

Loose Monetary Policy Not Only Stimulates Demand…

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