Sigh, oil opened today with a direct spike of 21%. Historically, the final sprint phase of oil prices has always marked the beginning of a major crash in the US stock market. High oil prices > high inflation > inability to lower interest rates and even the need to raise rates to control inflation > corporate profits squeezed > layoffs > worse economy > but due to high inflation, unable to lower rates to save the economy. The Federal Reserve has two missions: 1. Ensure maximum sustainable employment (control unemployment rate) 2. Ensure price stability (control inflation) When both of these cannot be controlled, it leads to stagflation. The last time the US truly experienced stagflation was from the late 1970s to the early 1980s, also due to the revolution in Iran causing oil prices to soar, leading the US into a severe recession. At that time, the Fed Chairman Volcker dragged the US out of stagflation through years of extremely tight monetary policy (with a peak federal interest rate of 20%). Sigh, it's troubling.

Why can't Ethereum, known as digital oil, rise together? 🤡