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Handouts Pitting Society; US exposure to China Subdued; Emerging Markets...
“When the people find that they can vote themselves money, that will herald the end of the republic.” – Benjamin Franklin “Everyone wants to live at the expense of the state. They forget that the state...
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Howard Marks on History; The Hero; China Bank Withdrawals
“Equilibrium…seldom reached and never long maintained” – Irving Fisher “…everything that’s intuitively obvious is questionable and everything that’s important is counter intuitive.” Howard Marks If...
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Global Equity Valuations; Bernanke On Unemployment; Scandals in China to...
“It is not the responsibility of the Federal Reserve – nor would it be appropriate – to protect lenders and investors from the consequences of their financial decisions.” Ben Bernanke (2007) “For the...
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Bernanke Defends Actions, Destroys Credibility with Each Successive...
“Bernanke Defends Fed’s Crisis Moves” ~ WSJ “We’ve been quite successful in keeping inflation low.” No, he hasn’t. Inflation is higher than his statistics suggest. He loves to put the blame for the...
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Trade Policy Disaster: Lessons from the 1930s
"The Depression of the 1930s was marked by the spread of protectionist trade policies, which contributed to a collapse in world trade." While Bernanke likes to point to the inability to print money as...
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