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Post-Election Blues

Friday, November 7, 2008, 9:48 AM
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Friday, November 7, 2008

The credit bubble has burst.  Twenty-five years of spending more than we've earned has finally caught up with us.  Now that the continuous expansion of credit has ceased, it is no longer possible to finance the carrying costs of the prior debt, and collapse is the inevitable outcome. But how will it play out?

 

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