Is it time to lock up the oil?
India is taking drastic economic measures to save their nation - and we need to do the same thing here in America. As the Times of India is reporting today - the government there has banned all exports of cotton until further notice. Considering that India is the world's second largest producer and exporter of cotton, - then this is a BFD - and global investors are lighting their hair on fire. As the Financial Times wrote today, "India's last export ban, declared in 2010, helped send cotton markets to record highs. Farmers and mills defaulted on deliveries as prices jumped, causing losses or poor results for global commodity merchants..." But India doesn't care - because they view their economy different than we do in the United States. They put the best interest of their citizens above the best interests of global markets - so they could care less about what the banksters and the Financial Times are saying.