Citi bank strategists have warned that the global economy is trapped in a “death spiral” that may lead to weakened oil prices, recession and a serious equity bear market. Analysts at the bank have dubbed the oil crisis “Oilmageddon” and say that a global financial crash worse than than the post World War II era may be on its way. Cnbc.com reports: “The world appears to be trapped in a circular reference death spiral,” Citi strategists led by Jonathan Stubbs said in a report on Thursday. “Stronger U.S. dollar, weaker oil/commodity prices, weaker world trade/petrodollar liquidity, weaker EM (and global growth)… and repeat. Ad infinitum, this would lead to Oilmageddon, a ‘significant and synchronized’ global recession and a proper modern-day equity bear market.” Stubbs said that macro strategists at Citi forecast that the dollar would weaken in 2016 and that oil prices were likely bottoming, potentially providing some light at the end of the tunnel. “The death spiral is in nobody’s interest. Rational behavior, most likely, will prevail,” he said in the report. Crude oil prices have tumbled by around 70 percent since the middle of 2014, during which time the U.S. dollar has risen by around 20 percent against [...]