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Bernanke’s Green Shoots Wither

Ben Bernanke, in a fit of wild optimism, told us that he saw ‘green shoots’ of recovery springing up around the economy. Not this morning I think. If real estate is anything to go by we are still in full recessionary mode. Housing starts in March fell 10.8%, to a level that is the second […]

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More on Capitalism: Is America Russia?

We really are at an important point in our history. The model of capitalism that dominated the Reagan era has been manifestly revealed as a failure. So the search is on for what to replace it with. At the risk of being repetitive I think it a subject worth continuing to discuss. Which is why […]

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Retail Sales Spoil the Fun

Well it didn’t take long for the optimism of recent days to get firmly dampened down. Today’s retail sales data is a very strong indication that the economy is still very far from healing itself. Here’s the release and the story from MarketWatch.com: U.S. retail sales slump 1.1% in March – MarketWatch The first two […]

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