Key Words: Oil-price spikes on this scale have ‘always preceded recession’: Jeremy Grantham

That’s legendary investor Jeremy Grantham, co-founder of GMO, sounding a warning on recession in a Wednesday note. Grantham, who is credited with foreseeing the collapse of the dot-com bubble and the 2008 financial crisis, warned earlier this year that the U.S. economy was approaching the end of a “superbubble” spanning stocks, bonds, real estate and commodities.

Read: Here’s the first Wall Street recession call of the new inflation era

Oil…