Word: prices
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...value, and foreign currency reserves reduced to the point that they can finance no more than six weeks of imports. Pakistan, in fact, is in danger of defaulting on its substantial foreign debt if it can't get help either from its friends or from the IMF - and the price of such help will be politically unpopular: a stepped up effort against the Taliban and, perhaps, some tough domestic economic reforms...
...gallon, says Ken Medlock, an Energy Fellow at the Baker Institute at Rice University in Houston, Texas. If gasoline drops $1.50 the $900 that Joe Average Driver saves would amount to a big stimulus package. According to Ed Leamer, director of the UCLA's Anderson Forecast, the current price slide could drop another $200-to-$250 billion into consumers' pockets, given that as of the second quarter personal spending for gas fuel oil and other energy was about $442 billion on an annualized basis. By way of comparison, Wal-Mart's U.S. stores took in $240 billion in the last...
...demand for oil is off 10% worldwide, why are prices down more than 50%? It's not a one to one relationship - small demand swings can cause large price swings, says Blanch. And the unraveling of oil is the other side of the credit crunch. Banks, investment banks and speculators have pulled money out of oil futures, further driving oil prices down; that's one reason why prices have fallen far faster than demand...
Despite the speed of the oil boom, the price crash has jolted OPEC countries, which appear to have assumed that high prices were here to stay. Nigeria and Iran have both set their national budgets according to prices of about $80 a barrel, and Qatar's expectation has been $90 a barrel. "Producers very quickly got used to $100-plus prices," says Lee. "They thought of it as normal and justified. They seem to have very short memories...
BlackBerry Bold. RIM's eagerly awaited new smartphone, the BlackBerry Bold, is going on sale Nov. 4. It's got GPS capabilities, BlackBerry maps, WiFi capability and a video player. Like the Curve, this Crackberry's only available through AT&T. Price...