Word: coppers
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Dates: during 2000-2009
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...dangerous - and least appreciated - is deflation. The stunning decline in the price of oil gets the business headlines - and has a good-news feel as it helps cash-strapped American consumers the most - but the cost of an entire range of commodities has also plunged in the past quarter: copper, gold, nickel and steel have all fallen as global demand has weakened. One popular gauge of commodity prices, the Reuters CRB Index, tumbled 22.3% in October, the biggest drop in the index's 48-year history. (See pictures of the global financial crisis...
...more than likely go for Obama on Election Day. But his homestead is actually in a little town 8 miles from Sedona called Cornville, in Yavapai County. Until recently, it was hard to imagine Yavapai, an old blue collar farming and mill town that used to supply the nearby copper mines, ever voting for a Democrat. The county went 59% for Bush in 2000 and 61% for him in 2004. But the demographics of the county - much like Arizona's and the Southwest's as a whole - are shifting...
...20th century, the nationalization of financial institutions and industry was seen in the U.S. as a rejection of economic liberalism and tantamount to an embrace of communism [Oct. 20]. It's hard to ignore the parallels between, for example, President Salvador Allende's nationalization of Chile's banks and copper industry in 1970, and the U.S. government's recent purchase of part of insurance giant AIG and its bailout of several financial behemoths. It is interesting that the crisis in the capitalist system has been met with the kind of government interference in the economy that was once viewed with...
...Indonesia's failure to launch can be seen as all the more frustrating because the country appears to be missing out on an epic global commodities boom. The archipelago of 17,500 islands is rich in natural gas, copper, coal, gold and other sought-after resources. Yet while some sectors, like palm oil, have seen exports surge, others have stagnated despite soaring commodity prices. A dearth of investment combined with aging fields has reduced the country's once formidable oil industry to near insignificance. Production has plummeted by one third in the past eight years. There may be undiscovered...
Obama met the second type of economic voter the next morning in St. Paul, Minn., when he stopped by the Copper Dome Restaurant for some pancakes. There he met Fred Romo, 71, a retired Ford factory worker. Romo's a lifelong Democrat, but he remains undecided, even after meeting Obama. "I'm kind of leaning towards Obama, but he's a rookie, you know, and I'm kind of worried about that," says Romo, who wants a candidate who'll bring down the cost of living for retirees...