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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: tejek who wrote (363067)	12/16/2007 6:02:41 PM
From: Road Walker	Read Replies (1) \| Respond to of 1578199

As I understand the 1970s period of stagflation, OPEC kept oil prices up even as demand weakened.......an irrational action that really weakened OPEC. I don't think they will make the same mistake twice. It's a different dynamic. Oil is not so cheap to produce. And OPEC isn't a major factor. What do you mean by flaky debt? Credit card debt, all the US imbalances. If CC debt starts to default with a recession, that alone would make the money center banks vulnerable. If China, the other Asian countries and the oil producing countries start to unload US debt, then things will break really bad. It's already happening to some extent. That's the most likely outcome because its in the best interest of many people to do so. You can't expect rational action when there is a run on money.