Article

2008-08-03 Syria-Lebanon-Iran

Weak dollar caused 30 percent of oil price rise: Iran

Archived material is restricted to Rantburg regulars and members. If you need access email fred.pruitt=at=gmail.com with your nick to be added to the members list. There is no charge to join Rantburg as a member.

Posted by Fred 2008-08-03 00:00|| || Front Page|| [8 views ] Top
File under: Govt of Iran

#1 What is more amazing is that with record oil prices, sphincter-tight credit, rising food prices, record foreclosures and bankruptcy, a negative housing market and GM losing $15 billion, et.al., the US economy is still GROWING not SHRINKING. Whereas both the UK and Eurozone with their very strong currency's are going down, down, down. American exports are leading the way and in some cases we are seeing reverse out-sourcing and industrial immigration - autos, steel, fabrication and manufacturing from Europe, India and Japan. Sure, just like now when I am in Belgium for a few weeks, the weak dollar sucks. But when I get back I won't be worried about a soup line.

Posted by Jack is Back!">Jack is Back! 2008-08-03 07:42|| 2008-08-03 07:42|| Front Page Top

#2 Jack,

Only if you use a GDP deflator of 1.1% to "take account" of inflation.

Posted by Bright Pebbles 2008-08-03 12:30|| 2008-08-03 12:30|| Front Page Top

#3 If/when the $10+ trillion in credit default swaps issued by the world's financial institutions are themselves defaulted on, we will forget all about expensive oil.

Posted by Anguper Hupomosing9418 2008-08-03 14:01|| 2008-08-03 14:01|| Front Page Top

#4 Given the massive deflation in all things housing related, a overall 1.1% inflation may actually be overstating things, even with oil spiking.

Posted by Bin thinking again 2008-08-03 16:27|| 2008-08-03 16:27|| Front Page Top

#5 Nope, House prices wasn't included on the way up, so there not effecting stuff on the way down.

There's certainly inflation and deflation in the economy simulatneously. this is due to the delveraging effect. i.e. deflation in things nornally bought on credit, inflation on everything else.

Posted by Bright Pebbles 2008-08-03 17:51|| 2008-08-03 17:51|| Front Page Top

23:51 Anonymoose
23:35 Anonymoose
23:18 Barbara Skolaut
23:16 Barbara Skolaut
23:11 Barbara Skolaut
23:09 Barbara Skolaut
23:01 Barbara Skolaut
22:45 Mullah Richard
22:34 SteveS
21:53 Pappy
21:51 McZoid
21:44 Pappy
21:44 McZoid
21:44 DarthVader
21:43 Frank G
21:42 DarthVader
21:31 Steve White
21:29 Steve White
21:24 Nimble Spemble
21:24 liberalhawk
21:19 liberalhawk
21:18 DarthVader
21:17 DarthVader
21:13 Zhang Fei