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Bailout Proposal Blowback
Posted on September 22, 2008
In recent days I have argued that this plan makes no economicsense and that whatever Paulson / Bernanke cook up to try tounchoke the financial markets, it better not chase everyoneback into the inflation hedge trades. Well, BINGO! Today, theUS dollar fell dramatically against the Euro, and the price of oilsoared $25 bl. to close to $130. On top of this, Congress, shovedinto a corner by receiving a three page bailout document a weekbefore adjournment for the election, has wisely decided to vetthis document thoroughly, and of course, to start adding lights,decorations and tinsel to the world's m...
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