"So what do all these very different recessions have in common? For one, oil price, demand and supply sensitivity appear to be consistent, and frequent historical precursors to U.S. recessions. A spike in oil prices has preceded nine out of 10 post-WWII recessions." Oil has fallen to 22$ and is shocking global funding markets. Not enough dollars to create 15Trillion Dollars needed offshore and onshore shortage. All EMs who have debt or credit with the U.S will be affected.