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It's been a quick slide from economic superpower to economic basket case.
Rosa Brooks
September 18, 2008
Dear United States, Welcome to the Third World!
It's not every day that a superpower makes a bid to transform itself into a Third World nation, and we here at the World Bank and the International Monetary Fund want to be among the first to welcome you to the community of states in desperate need of international economic assistance.
3rd world, that's a bit much. We will join the rest of the developed world though i.e. most of Europe. Our standard of living is definitely going to take a downward turn.
A shift of wealth & power to Asia and as oil goes up, to Russia, Saudi Arabia, Iran, Iraq, Venezuela. Oh sh111111111111111111111111111t!
I think not.
Note that OPEC shot itself in the foot with the very high oil prices and, if anything, the demand for the stuff has dropped over 5% compared to a year ago.
Face it: OPEC is 'screwed' if crude prices crash much further.
With the exception of Russia; none of the OPEC producers are any sort of a world power...........take away their oil they are nothing.
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