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Recovery Or Not?

Some of you have expressed confusion at the news that the official folks who decide when a recession ends have not yet pronounced the beginning of the recovery. On the contrary they continue to mutter darkly that it’s too early to make the call. This is because there still is no concrete definition of what […]

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Bank Crisis Aftermath: Greenspan Speaks

For those of us who have nothing better to do than get immersed in the banking crisis and its aftermath, this week has presented some riveting television. The Financial Crisis Inquiry Commission has been grilling some of the key players – dare I say villains? – of the implosion that led us into recession. Some […]

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Up And Down We Go: Jobs and Sales

The reports of the past two daysgive us a clear example of the way in which the optimists run the reporting of economic news. Yesterday it was retail sales. Today it is the normal weekly report on claims for unemployment assistance. Let’s starts with yesterday. Retail sales, if you read only the headlines, bounced back […]

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