101 comments on The Finance Round-Up: December 19th 2007
Comments can no longer be added to this story.
| Show without comments | PDF version
101 comments on The Finance Round-Up: December 19th 2007
Comments can no longer be added to this story.
| Show without comments | PDF version
User login
Personnel
Archives
- November 2009
- October 2009
- September 2009
- August 2009
- July 2009
- June 2009
- May 2009
- April 2009
- March 2009
- February 2009
- January 2009
- December 2008
- November 2008
- October 2008
- September 2008
- August 2008
- July 2008
- June 2008
- May 2008
- April 2008
- March 2008
- February 2008
- January 2008
- December 2007
- November 2007
- October 2007
- September 2007
- August 2007
- July 2007
- June 2007
- May 2007
- April 2007
- March 2007
- February 2007
- January 2007
- December 2006
- November 2006
- October 2006
License
This work is licensed under a Creative Commons Attribution-Share Alike 3.0 United States License.
GAIA Host Collective
Nick,
The US is the focal point of much of the finance news, simply because much originated there. But we also have articles today from/about Canada, China, India, UK and the EU.
And whether or not people are saying that the credit crunch will spread, one look at the $500 billion credit injection from the ECB says enough. One of the articles points out that this is just till year's end, it will have to be rolled over early in 2008.
Yes, all of it is spreading, and if you ask me, there is no way it could not be far worse than we know so far, simply because of every single involved party's propensity to smooth things over and postpone and so on.
And don't forget that the reason, as well as the reasoning, behind the continuing freeze on Canada's ABCP, the ECB giant injection, and many more measures taken, is optimism and hope that the markets will restore and rise back up. Without that hope, actions like these are utterly useless.
So what if the markets keep on sinking? The hole has just been dug that much deeper.
-well, that's partly my point.
When Oil hits US$150 the ceiling will be falling in on the US by their words. In the meantime KSA, Russia and the other Net Exporters will be doing very well. High oil prices are not necessarily bad for the overall global economy but locally the effects could be severe and if you are very highly geared to its use and have a loud media, well, its going to sound like the end of the world isn't it...
Nick.
Obviously, oil at$150 a barrel won't just hurt the US. As I just said, the EU gets pretty desperate. And KSA can export oil, but their financial holdings will sink just as fast as deep as those in other countries.
And then we're not yet mentioning third world countries. Or Canada, a major exporter, where the economy is about to have a brain seizure, oil income or not. Or the UK, a former major exporter, which when in comes to housing and mortgages looks worse off then the US. Or China, which will lose a huge chunk of its customer base in the EU and US.
The financial demise does have a link to oil and its price, but is quite capable of causing severe mayhem all by itself.