While we weren't watching, the price of oil more than doubled from its low early in 2016.  Volatility of that kind is not unusual.  A look at the 70-year chart shows that there have been eight times when oil prices have doubled or tripled in a brief timespan during those seven decades, nearly always sending the economy into a recession. Fortunately, the run-up in oil prices has begun to stall – partly, I believe, as a result of increased U.S. production supported by the Trump administration.  Thank goodness we have Donald Trump in the White House.  Without him, we would be heading toward another recession. The recent doubling of oil prices may not have a decisive effect, and may soon be reversed as a result of increased production, but oil still has the power to slow the economy.  Over the past 20 years, while average household spending on gasoline alone has fluctuated between about 2% and 4%, other energy costs,...(Read Full Article)