200711.26
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The Real Deficit

Maybe this is why the dollar is rapidly going to hell in a handbasket? When it comes to financial magic, the government of the United States takes the prize. Sleights of hand and clever distractions by purveyors of line-of-credit mortgages, living-benefit variable annuities and equity-indexed life insurance are clumsy parlor tricks compared with the Big…

200711.21
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Engineering the Dollar

The dollar is a unit of measure that changes on a minute by minute basis. Imagine if other units of measure did the same: The U.S. dollar is in a scary slide. Gold and oil are hitting record highs, while the dollar is hitting record lows. To get how strange this all seems to an…

200711.21
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Samuelson’s Prescription

Paul Samuelson has done more harm to economic literacy through his Keynesian textbooks than even Keynes himself. He provides a textbook example of Keynesian meddling in this article in the IHT. His first mistake and his political affiliation is on display in the first sentence: All through the years of the Great Depression, Wall Street…