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Italy on the Brink

By now you know the news: Italian bond prices have climbed to levels only recently reserved for the likes of Ireland, Portugal, and Greece. A catastrophe is on the horizon. We need not dwell on the details because the situation is too fluid. The Italians have postponed remedial action for way too long, and the […]

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Gathering Clouds – Poverty, Banking, and Debt Limits

This is a once in a lifetime moment. Fortunately. None of us want to live through a repeat of the turmoil currently roiling the world economy. With that portentous statement out of the way, let’s consider the chaos around us. Last Friday we read a breathless article in the New York Times pointing out that […]

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Weak Jobs Gain

There is not much to say about today’s unemployment and jobs reports. In way the data contains slightly contradictory stories. This is because there are two sources for the information we lump together in the report: the survey of business and the survey of households. The two sometimes diverge in their narrative. Perhaps now is […]

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