Word: palmes
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Dates: during 2000-2009
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Eighteen months ago, when the world was awash in asset bubbles, there was perhaps no market more overheated than commodities. Prices of everything from iron ore to palm oil to corn reached dizzying heights. Crude oil nearly quintupled in five years; rice tripled in only five months. World Bank President Robert Zoellick called rising food and oil prices a "man-made catastrophe" that had the potential to quickly erase years of progress in overcoming poverty. Protests and riots over high prices for necessities erupted across the developing world. Pundits dusted off Malthusian theories that the planet was physically unable...
...over the last several months, something funny has been happening in the commodities trade. After spectacular plunges, the prices of oil, copper, palm oil and others are rallying. This shouldn't be happening given the parlous state of the world economy. The International Monetary Fund this week cut its global growth forecast for 2009, predicting GDP would contract by 1.3%, the most severe recession since the 1930s. Yet oil is some 50% more expensive now than in December. Palm oil, which is used in a wide variety of manufactured foods, has surged by about 50% this year. "The only area...
...investment today causes tighter supply down the road. At the same time, there is every reason to believe that emerging markets such as China and India will continue to be ever more voracious consumers of iron ore, oil and food as their economies get bigger and their citizens richer. Palm oil prices, for example, have been rising of late partly because demand from India, with its population of 1 billion, is holding up. In March, China imported a record amount of iron ore and coal, while imports of crude oil hit a 12-month high. The binge is being fueled...
...It’s not that “Lowboy” belongs at a supermarket checkout counter, but the more I read the more I realized he was telling me things I already knew. A great novel is magical—this was more like an eerily accurate palm reading, skillfully executed and titillating in its own way, but content to keep out of the great beyond...
...arms and sobbing when it died on Sunday. But this is hardly the worst loss he's suffered. Some years ago, Vargas' 18-year old son Victor, himself an accomplished polo player, died of a bacterial infection. With reporting by Virginia López/Caracas and Thomas R. Collins/West Palm Beach...