Another brutal day on Wall Street saw more record declines in oil prices and chaos in the stock markets worldwide.

Stocks worldwide have been in a tailspin since the beginning of the year, triggered in part by the persistent decline in crude oil prices. Is this just a hiccup in a longer-term bull market or a long-anticipated correction?

According to Dow Jones, the first week of 2016 was the worst five-day start for the Dow on record. Over the course of the week, the Dow lost 1,079 points, over  six percent of its value. Investors saw markets plunge last week as fears about Chinese markets dealt a heavy blow to markets worldwide.

OPEC's implosion continues apace, with even more recent bad market decisions, proving that cartels never last.

Signs that the economy is slowing are not aberrations due to bad weather or attitudes, but harbingers of the next recession.

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