(an email exchange)
>Ãƒâ€šÃ‚Â Ãƒâ€šÃ‚Â On Mon, Apr 21, 2008 at 9:23 AM, Scott wrote:
>Ãƒâ€šÃ‚Â Ãƒâ€šÃ‚Â Backed by high oil prices, Saudi Arabia is embarking
>Ãƒâ€šÃ‚Â Ãƒâ€šÃ‚Â on a massive spending program focused predominantly
>Ãƒâ€šÃ‚Â Ãƒâ€šÃ‚Â on infrastructure projects. The value of announced
>Ãƒâ€šÃ‚Â Ãƒâ€šÃ‚Â investment projects so far is $862 billion.
Thanks, looks like maybe they’ve figured it out as suspected (jack up price and spend the USD) which improves their real terms of trade while hurting ours and keeps US GDP higher to please policy makers who think it’s all a good thing.