President Barack Obama Message Board

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Politics : President Barack Obama

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To: tejek who wrote (74075)	5/9/2010 12:39:48 PM
From: Wharf Rat	Read Replies (1) of 149317

The Coming Oil Price Shock Commodities / Crude Oil May 08, 2010 - 05:20 PM By: Andrew_McKillop Fatal Difference - Fatal Indifference - We need only to recap the experience of the 1970s and 1980s to understand why massive public national deficit financing of Keynesian-type spending to restore global economic growth will almost surely end with a 1970s style oil shock. That is oil price explosion, falling consumer confidence and corporate investment, falling economic growth, finance sector panic, competitive devaluation of world moneys and a catastrophic slump back into recession. Like the 1970s experience, the recession will be very inflationary. Message 26522894

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