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Monthly Archives: November 2013
MuniLand: state pension funding declines despite reforms
U.S. state pension funding declines despite reforms. Here is a direct video link. As we consider the funding deficits prevalent in pension plans today we should appreciate that large deficits persist even though US stocks have soared in a dream … Continue reading
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Good for families, bad for retailers and consumer dependent GDP forecasts
Today HSBC’s Chinese preliminary purchasing managers’ index slipped to 50.4 in November from 50.9 in October. The reading just above 50 implies a weak expansion among manufacturers, and is a sign that growth in the third quarter is fading. The … Continue reading
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Life in Hungary’s debtors village
Global banks are still sitting on mountains of bad debts that will never be repaid. The extend and pretend phase permitted by central bank liquidity bought some time but has done nothing to clean out and reset the system. Meanwhile … Continue reading
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