US recession round-up....

Some recent posts on the coming US recession....

Here is the insightful Nouriel Roubini taking stock of the dire state of the US economy, and the path it is on to recession.

Here is James Hamilton explaining why the oil price is so high. It's a simple case of supply and demand. We've got lots of the latter, and not quite enough of the former.

In the past, any major rise in oil prices has lead to a recession- no questions asked. Hamilton continues here with why the economy need not be as sensitive to the price of oil as it was in the past, which may be cause for a little optimism.

And his fellow Blogger, Menzie Chinn, continues here with a roundup of recessionary causes, and the historical inability of growing trade to keep the US economy out of recession.