OPEC Doesn't Like Oil Prices - Surprise, Surprise

Now who would not expect to see this one.

OPEC will hold an emergency meeting November 18, 2008 to discuss the economic crisis and oil prices.

In other words cut production to stop the slide.

What's interesting is:

There is some doubt whether OPEC can actually slow oil's decline. The cartel's decision last month to cut production by 520,000 barrels a day failed to halt the losses, which have accelerated in recent days

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OPEC IS DOOMED (GM will Prevail in Socialist America.)

Watch the death spiral of oil prices. Watch Russia loath to loan to Iceland, when foreign policy gains are at hand. Witness the doubling of estimated natural gas reserves in Appalachia, or the move to drill offshore. Or even the environmental heartlessness of drilling in ANWAR.

GM, contrary to it's doomsayers will survive. Or GM will be made to survive in Socialist America of 2009). To turn the words of the former US Chief Attorney, John Mitchell on his head "This country is going so far to the left, that you won't be able to recognize it."

Just look at the economy. FMMA/GNMA are nationalized, so is the banking sector. A surviving GM/Ford/Chrysler/Transplant Auto Sector is far better than 25% unemployment - where we are going in few months,not years.

So you say you are not a Socialist. Show me how you survive?
The difference between your buddy George Bush and Hugo Chavez of Venezuala (who nationalized banks and others) is that Chavez speaks good Spanish.

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Burton Leed

Que?

No comprendo su opinas.

;)

Ok, this is not socialism, this is corporatism. All of these terms are soo, so abused, poor babies!

Socialism and let's take some successful examples like Sweden, Finland, Canada, France an so on....

should be bottom up and if it isn't it's something else...

So, I don't think we're going left, more we're going down as they work and work to prop corporations up.

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Que?

we are far closer to "national socialism" right now than anything else - the unholy union of the corporation and the state aka fascism

Or capitalistic socialism where profits are privatised but losses socialised

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check out the article

in the panic of 1873 blog post, speaking of ushering in a new era of corporatism (beyond how bad it already is). I hope we get more analysis on the robber Barron era at this point.

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