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Economic Report:

By Jesse Russell

Former Federal Reserve economist Nariman Behravesh has told Bloomberg news that crude oil passing $100 per barrel could be the final push needed to “bring the U.S. economy to its knees.” The first forceful push came from the nation’s credit crunch. Economists are now projecting the possibility of a U.S. recession next year at 45 percent that is up from 33 percent just one month ago. If it happens the U.S. will likely pull Japan and Europe down with it.