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Oil, soy beans, copper that made Latin
America prosper now go bust in financial crisis
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.
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.
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
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.
markets had seven
consecutive down sessions,
losing 21% in the l0... More.
