Wednesday, Apr 30, 2008
Foreign central banks and investors presently hold $6 trillion in dollars and dollar-backed assets,
signs of the times: Signs Economic Commentary for 28 April 2008
There's no oil shortage; that's another ruse. Speculators are simply driving up the price of oil to hedge their bets on the falling dollar. What else can they do; put them in the frozen bond market, or the sinking stock market, or the collapsing housing market?
Profit conditions are under pressure around the world. Resource shortages, basic material price spikes and nationalism are placing great pressure on all net input importers. Rising domestic prices, materials costs and xenophobia rarely advantage far flung MNE operation.
see also http://www.counterpunch.org/whitney04262008.html
Posted by malct @ 04:50 PM (252 views) Add Comment
2 Comments
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1. maddison said...
Good job we are a net exporter then....
2. Cybervigilantes said...
Maddison said... "good job we are a net exporter then..." well clearly not although we do make a tidy income from hypocritically supplying arms to Iran: http://www.guardian.co.uk/world/2008/apr/20/armstrade.iran