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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (34599)	11/30/1998 10:58:00 AM
From: John Gault	Read Replies (3) \| Respond to of 94695

"American banks that have lent billions to Venezuela and are frightened by Chavez' threat of a debt payment moratorium." That could certainly scare the bankers and tighten credit in a lot of emerging countries. But it appears to me that Venezuela is between a rock and a hard place with the current price of oil. Over production and not having the money to afford to cut back leads to the pump until you drop mentality,,, I also see Russia is raising there oil output. How does over production end when producing countries are reliant on the money generated by oil? All of these OPEC and even Nonopec countries are going to have a harder time in March trying to agree on cuts when their economies are going down the drain.