Today in the Financial Times, on the front page it said the price - TopicsExpress

Today in the Financial Times, on the front page it said the price of oil was down because of the huge amounts of oil flooding the market from fracking...shale oil. The wars to take the oil from Iraq and Libya were supposed to artificially keep the price of oil high, and that, as my comrade Bill Dores showed, made fracking, a very expensive procedure, profitable. Well, now its not. Not only is the price of oil declining, but sos everything else, according to FT. Weve got DEFLATION. It is not just that the US is lowering the price of petroleum to hurt Iran, Russia, and Venezuela, it is that overproduction of commodities has reached a point wherein the workers cant or wont buy all this stuff. The retailers...need to pay off the wholesalers, and the wholesalers need to pay their creditors. But sales are down. CREDIT CRUNCH. Capitalism is sick. The invisible hand is arthritic.

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