 | The Implications of Biofuel Production for United States Water Supplies | The Oil Drum | Food Miles in Australia |  |
398 comments on DrumBeat: November 30, 2007
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398 comments on DrumBeat: November 30, 2007
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The Fed will, of course, play every short-term financial trick they can think up. Aside from interest rate cuts, I expect a lot of glowing financial rhetoric and creative accounting.
In the long run, these tactics can only do so much. However, the last card that the USA can (and will) play is a fire sale of assets. The opening shot last week was the sale of about 5% of Citibank to Abu Dhabi. Fortune has a good article on how this trend will likely accelerate in the near future:
A stake in Citi is just the start
regards,
Oz
that old Arab saying:
My grandfather rode a camel, my father rode a camel, I drive a Mercedes, my son drives a Land Rover, his son will fly a jet, but his son will ride a yankee (and own half of America).
by Rashid bin Saeed Al Maktoum
Amended last line slightly.
Yankees are easy to keep. They believe everything.
;-)