Between 1973 and 1980, the cost of crude oil rose suddenly and dramatically, precipitating convulsions in international politics. Conventional wisdom holds that international capital markets adjusted automatically and remarkably well: enormous amounts of money flowed into oil-rich states, and efficient markets then placed that new money in cash-poor Third World economies. David Spiro has followed the money trail, and the story he tells contradicts the accepted beliefs. Most of the sudden flush of new oil wealth didn't go to poor oil-importing countries around the globe. Instead, the United States made a deal with Saudi Arabia to sell it U.S. securities in secret, a deal resulting in a substantial portion of Saudi assets being held by the U.S. government. With this arrangement, the U.S. government violated its agreements with allies in the developed world. Spiro argues that American policymakers took this action to prop up otherwise intolerable levels of U.S. public debt. In effect, recycled OPEC wealth subsidized the debt-happy policies of the U.S. government as well as the debt-happy consumption of its citizenry.
Timberlake, Jeffrey M., AaronJ. Howell, and Amanda Staight. 2011. “Trends in the Suburbaniza— tion of Racial/ Ethnic Groups in U.S. Metropolitan Areas, ...
For example , on January 12 , 1972 , the newly - formed Timberlake Advising Boardcomposed of people from TVA , Boeing , various state agencies , and local ...
In 1816, Margaret married John Timberlake, a ship's purser in the U.S. Navy, but her conduct continued to be criticized. According to local gossip, ...
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Richard Timberlake likewise thought Friedman was a “scintillating teacher” (Timberlake 1999, 22). Finally, Becker noted that “no course had anywhere near ...
Ideology, Public Policy and the Assault on the Common Good William E. Hudson ... 191 Timberlake, Justin, 88 Tocqueville, Alexis de, 26 Townsend, Francis, ...
Krauss, Melvyn B., and Edward P. Lazear, eds. 1991. Searching for Alternatives: Drug-Control ... Paul, Randolph E. 1954. ... Timberlake, James, H. 1963.
Richard H. Timberlake, The Origins of Central Banking in the United States ... Industrial Policy, and Rational Ignorance,” in Claude E. Barfield and William ...
It 's like when someone judges you that way, and I know it 's because I 'm ... the one 's they judge and criticize have to deal with the pain they cause?