High Oil Prices and The Problem Paying Interest on Debt

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ewilkerson
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Joined: Jul 18 2010
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High Oil Prices and The Problem Paying Interest on Debt

There is a nice article on The Oil Drum about the lack of the OECD countries paying their interest on their debt due to high oil prices.  Here is a quote:

Stagnating growth in the UK will in great part be caused by unsustainably high oil prices that are now weakening though still strong - dragging the world economy toward the edge of the cliff. The intriguing story of high oil prices and recession is unfolding before our eyes and I will return to this subject on a regular basis in the months ahead lest anyone should say: "no one saw it coming".

http://www.theoildrum.com/node/8120#more

Cheers,

 

Ernest

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