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Quick GM Update

Just a very short note on GM: rumors are now flying that the administration is set to push GM into bankruptcy at the end of next week. All the pieces are coming into place. The company has reached an agreement with the UAW to cut health care and other benefit costs dramatically. While some have […]

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The Dollar’s Decline

As if right on cue, given my comments yesterday about the US fiscal dilemma, the dollar has begun to take a beating in the currency markets. It is quite possible that this is the beginning of a long decline, lasting a few months, so it’s worth reflecting on the root causes of the decline. Two […]

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The Outlook: Part 2

Following up on my short post yesterday about the Federal Reserve Board’s outlook for the economy, today I received the Congressional Budget Office [‘CBO’] forecast which takes the form of a briefing to Congress. The story is pretty much the same. But there are small differences we ought to be aware of. The CBO takes […]

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