Kaletsky: "Oil prices easily could fall to $30 a barrel or lower if America seemed serious about a carbon tax. A US energy tax would shift hundreds of billions of dollars in monopoly rents from oil-producing countries to the US Government."

Noland:

"“Central banks are now realizing they must take global levels of liquidity seriously, the ECB’s former chief economist, Otmar Issing, said Friday. ‘I am concerned about excessive liquidity in the world,’ Issing told a conference for economic students here. This concern is shared by the current members of the ECB’s Governing Council, who have taken the lead in alerting other central banks to the risks at hand, Issing noted. ‘There is now increasing support of the view that excessive liquidity world-wide is fueling asset prices and is something which has to be taken seriously by central banks…This is a real concern.’” (Market News International).....

...the massive expansion of foreign central bank dollar holdings has gone a long way in underpinning market confidence. The overwhelming consensus view has evolved to the point of believing the bond market is safe from yield spikes and the currency markets are protected from abrupt dollar declines and crises.

...the speculator community has been pressed into “lower-tier” Credit instruments to achieve acceptable returns.

...to what extent the Bubble in corporate Credits has been fostering speculative flows into U.S. corporate securities – and in the process supporting the dollar today but creating dangerous systemic vulnerability in the process – is something to ponder."