Petrodollars could be panacea to US financial quagmire
By Ravi Kumar
With the primaries and caucuses in full flow in the US there is one common assertion in all lofty promises made by the presidential hopefuls: to revitalise the economy which is on the verge of a recession.
Economic pundits, chief executives and money managers across the globe still seem to be clueless about how severe the damage is and how critical the subprime mortgage quagmire would be in the months to come.
America's economic woes just seem to multiply endlessly and corporate bigwigs are falling casualty to this subprime crisis.
Oil prices which continue to escalate rather steeply amid worries of recession also rubs salt into the wounds. US Fed Reserve chairman Ben Bernanke was quick to announce sops in the form of rate cuts and other fiscal stimulus. Read more ...
Economic pundits, chief executives and money managers across the globe still seem to be clueless about how severe the damage is and how critical the subprime mortgage quagmire would be in the months to come.
America's economic woes just seem to multiply endlessly and corporate bigwigs are falling casualty to this subprime crisis.
Oil prices which continue to escalate rather steeply amid worries of recession also rubs salt into the wounds. US Fed Reserve chairman Ben Bernanke was quick to announce sops in the form of rate cuts and other fiscal stimulus. Read more ...
Source: Gulf News
H/T: Sharia Finance Watch
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