The Sand Castle
It is my sad duty to announce that we do indeed, live in interesting times.
U.S. Stocks Drop, Sending Benchmarks to 2005 Lows- Bloomberg
Oil Prices Rise From Near Seven - Week Lows- New York TimesIMF sounds alarm over US finances - AFP
IBM 1st-Qtr Profit Misses Estimates; Shares Tumble - Bloomberg
posted by Peter at 10:15 am
1 Comments:
The Necessity of Recession
http://www.iht.com/articles/2005/04/26/news/edbowring.php
Nothing but a rise in savings - which means a sharp fall in consumption - can solve the deficit problem. In other words, the United States must face up to the necessity of a recession or prolonged minimal growth if balance is to be restored.
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