This is a

CBS, I on the world. I'm John Bachelor. The Scholar Report with CEO Chris Regal of

scholar.com, a global technology firm transforming the retail space with

digital signage. The recession, the talk in early 23, late 22, the recession. The anxiety at the Federal Reserve the recession the

markets hesitating moving sideways all of 23 for the

for the s&P 493 not the S&P 493 not the mag 7 the S&P 493 sideways in fact small

caps are down since the July rally the recession and then it goes away. I welcome Chris to comment on a new report that

the energy sector, that would be oil, is flagging recession. How does it flag it? There is no geopolitical change in the

Middle East. It's worse. There's no geopolitical change in Europe. It's worse. There certainly is no change in the prospects

for 25 and the war is continuing, even deepening if the Hezbollah war begins.

And yet the price of oil is gone from the 90s in the springtime,

where it touched, this is Brent Crude, the metric for Europe, to 70 or less now and there is prospect of it going

into the 60s or lower in the immediate future.

Recession, question mark.

Chris, a very good evening to you.

You have been very clear a worldwide recession for two years.

Now and again, the market uses that word. Is the energy sector different

with oil going the wrong way in a crisis? Good evening to you.

Good evening John. What you're seeing is the materialization of the

consumer in both the US and globally just running out of those stimulus dollars

that were pumped out during the pandemic.

So consumer savings are now effectively wiped out in many classes.

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