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Will the Fed announce ”QE 3″ at the next FOMC meeting this month? (Jim Rogers thinks it’s already underway.) While the market reaction Friday and many of the media headlines suggest that this is virtually a foregone conclusion, caution in assuming such makes sense to me. A much-ignored part of Ben Bernanke’s address at Jackson Hole two days ago, discussed [...] [Portugal has been the "sick man" Europe for many, many years. After the overthrow of the corrupt military dictatorship in 1974, the country has suffered through a succession of mostly socialist leaders, with strong elements of Marxist parties and Marxist unions. It's a quaint, slow place where now it is mired in debt, [...] The Daily Capitalist has kept the Greece financial situation in perspective. Greece has borrowed not wisely but too well, so to speak, but at the end of the day, it has about as many people as the state of Illinois and the economic output of the modestly-populated state of Wisconsin. The same is true of [...] I have been trying to find a good description of what actually was accomplished in the Brussels all-nighter, and am happy to pass along a link to an on-line summary of a print piece from Britain’s The Economist, which provides a good summary of many of the main points, plus commentary. This is a very mainstream publication, so what [...] |
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