I find it strange that the Sequoia presentation doesn't talk about energy prices and their effect on the economy. After all, the price of oil went triple digits

I find it strange that the Sequoia presentation doesn't talk about energy prices and their effect on the economy. After all, the price of oil went triple digits in 2008. Historically, there is a strong correlation between spikes in oil prices and recessions. In 2005 these guys were even wondering why a recession hadn't shown up yet - guess they spoke too soon: http://www.frbsf.org/publications/economics/letter/2005/el2005-31.html http://www.frbsf.org/publications/economics/letter/2005/el20...