To sum up, globally we are tracking or doing even worse than the Great Depression, whether the metric is industrial production, exports or equity valuations. Focusing on the US causes one to minimise this alarming fact.
(H/T to SurvivalBlog.)
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The good news, of course, is that the policy response is very different. The question now is whether that policy response will work. For the answer, stay tuned for our next column.Uh...um...see, I...oh, forget it. It's gonna take someone stronger with the Snark than I am.
Well, isn't this just a ray of frickin' sunshine. >_<
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