Mixing the Economic Elements for Crude Oil to Surge to $150 and Dow 20,000: Rickards

The escalating tensions in Ukraine and Gaza could potentially trigger a sharp increase in oil prices, potentially reaching $150 per barrel. This surge could induce a significant economic downturn, echoing the effects of past oil crises. Additionally, these geopolitical conflicts might precipitate a drastic drop in the Dow Jones index, similar to previous economic slumps caused by similar events. For instance, a severe downturn could lead to a decline in the Dow Jones index comparable to a 45% fall experienced during the 1974 recession, equating to a drop of over 15,000 points from current levels.