Thursday, January 03, 2008

Holy Freaking Oil Batman

I knew the oil exporting countries of the world ad a positive balance of trade, but I didn't realize it amounted to nearly 20% GDP.

If there is any solace in this figure it will do two things;

1. Give progressively more capitalist sovereignties like Abu Dhabi the cash they need to westernize and modernize their economies thus fighting terrorism by providing a more stable economy.

2. Provide the cash they need to buy cheap foreign assets and maybe bolster stock markets and property prices here.

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