Or was the better bet to believe University of Illinois' Julian Simon, who said prices for oil and other commodities would drop?

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Thanks to abundant natural resources the economy has grown at an average of 7% a year for the past decade and only now shows some signs of flagging as commodities prices drop.

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It stands to reason that replacing OPEC's monopoly with fuel competition will force the cartel and commodities speculators to drop the price of oil.

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The rising dollar also led to a drop in commodities priced with the dollar.

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In its moves, the U.S. Federal Reserve must avoid accelerating what has been a steady drop in the greenback relative to commodities and most other currencies.

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If there is any drop in oil prices the prices of commodities will shoot up as the excess capital runs dry and state subsidies are cut.

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Some investors are using commodities as a hedge, to guard against a broad drop in the stock market.

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Part of the problem is weakening growth in exports, driven largely by a recent drop in the price of coal and other commodities that Indonesia sells overseas.

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Its main exports remain metals and energy commodities, so as the global growth outlook stagnates at best, a drop in exports could put a damper on the economy.

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