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Daily Archives: August 6, 2013
More municipal troubles surfacing
A Federal judge approved the expedited hearing for Detroit’s bankruptcy case, reports CNBC’s Scott Cohn. Also, a look at the likelihood the same thing could happen in Chicago, with Phil Rosenthal of the Chicago Tribune. Here is a direct link.
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Fed’s reckless doom machine
Over the past 2 years real S&P earnings have declined by 2% while the trailing 12 month price to earnings ratio of US stocks has jumped 42% (from 13.5 to 19.5x) on thinly participated but highly leveraged stock speculation. Even … Continue reading
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