walkitout (walkitout) wrote,
walkitout
walkitout

The Magical Country That Solved Capitalism Turns Out Not to Have Done So

http://www.nytimes.com/2015/09/25/business/international/norways-central-bank-cuts-interest-rate.html

Surprise interest rate cut from Norway's central bank. Because it turns out that Norway is just the Euro version of North Dakota? With a lot more Teslas and better housing.

This is what happens when your economy is so tightly bound to the price of oil. Sure, you look great while everyone else suffers from high fuel prices during the peak of the commodity cycle. But So So Sad when the wheel turns.
Tags: economy
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