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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: ronayre who wrote (33043)	9/13/2000 1:51:26 PM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

OPEC oil ministers hate to see this what is happening, the pallaces in Riyadh and Kuwait city are humming with the actitvity to bring this oil down which is high more due to speculation than actual shortage of supply. OPEC is a fragmanted group behind present untiy of OPEC is Venezulan Chavez and not a look alike of Yemani an Arab, the Arabs own huge future supplies and sit on volatile autocracies for them alienating public opinion in the west is more important than meeting Chavez agenda of social equality, the schism within OPEC is develpoing and according to my news Prince Abdullah the Crown Prince defacto King of Saudia has ordered Naimi to open the taps, this is high politics on which stability of Saudi regime is dependent and few specualtors can take oil to 38 even 40 but the fall will be equally significant. Gorodn Brown is accusing OPEC and that is not going to be taken by the Arab group within OPEC lightly, they know it well that for good faith they cannot play with the good will of western public if they alienate public opinion who is going to save them from Saddam like people next.. Oil plays a great role in our lives, we have oil as an issue Euro weakeness as other issue, but remember recent economic history if you need to know what happens to countries when their currencies are taken for ride, look at UK black sept 92, pound was crucified but cheaper pound was non-inflationary and help produced economic miracle that turned around UK same would happen to Europe the export oriented European industry would be the biggest benefactor of this lower Euro, but economic activity would increase the newly earned money would increase the economic activity in the region that was slow until 1999, for economic recovery they need more of 'computing power' for that productivity miracle to ensue like we saw in US, this is the positive cycle which we are seeing markets in the mean time can read all wrong but the fact remains that profits and economic activity plus wealth creation and higher productivity with lower inflation can ony produce better than average corporate results..that is the mantra we have been playing and collectively singing. I see no reasons for notes to mix this time.. the script is well written and the present unfolding of economic activity only shows the continuation of what we have been seeing from 95.. a minority view but a valid view supported by market moves so far.... fwiw