Oil Brings Americans Closer to OPEC Debtor Dependence
``It's a net transfer of wealth from the United States to the oil exporting economies on a very, very significant scale,'' said Brad Setser, an economist with the Council on Foreign Relations and former acting director of the Treasury's Office of International Monetary and Financial Policy. ``That is a reality. Anybody who is pursuing a policy with large deficits is implicitly planning on relying on demand from those countries.'' Full Story »
Posted by Chris Finnie
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