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I woke up this morning to a warning in the Guardian from the Bank of Scotland's (RBS) economists. We are all to eliminate our share portfolios except for Government bonds. I did not feel the need to call my broker as I am too broke to have a share portfolio. Still I think it is very interesting to pair The RBS's warnings with the alarums and excursions coming out of Michael Roberts. I am particularly interested in the impact of the collapse of crude oil prices. Maturo in Venezuela may have been the first victim, but it might be worth keeping one's eye on Saudi Arabia. the Royal Family is already muttering about the need for Thatcherism. The recent mass executions might also signify a nervous ruling elite. If they apply Thatcherism inside the Kingdom, then I think all bets are off. The Royal Family survives because of its capacity to bribe. If that capacity is diminished by the fall in the price of crude, then it is just possible we could be in for a Second Wave of the Arab Spring. And it might be one that takes out the most corrupt leadership in the world - the Saudi royal family. comradely Gary _________________________________________________________ Full posting guidelines at: http://www.marxmail.org/sub.htm Set your options at: http://lists.csbs.utah.edu/options/marxism/archive%40mail-archive.com
