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Oil, soy beans, copper that made Latin
America prosper now go bust in financial crisis
October 11, 2008: All the talk in
the recent past about the
"decoupling" of Asian markets
looks all too distant now - to
the point of seeming
delusional. Up until six trading
days ago, the main Wall Street
indices were down only a bit
over 20%, barely a bear market
in definitional terms (wherever
the definition came from),
while Asian equity indices had
been taking hits as chronicled
in this weekly commentary.
Crash !
October 10, 2008: BRASILIA, Brazil - The booming prices for Venezuelan
oil, Brazilian soy beans and Chilean copper that brought prosperity to
Latin America are heading for a bust that threatens to erode the hard-won
gains of its poor and newly emerging middle class.
The global financial
meltdown is cooling
demand for
commodities, the
engine that fueled
more than a decade
of growth and erased
generations of
suffocating
international debt.
...
.MORE
Then the New York stock
markets had seven
consecutive down sessions,
losing 21% in the l0...
More.