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Monthly Archives: July 2011

Debt Ceiling Crisis “Collective Insanity”

“A default because of a failure to raise the Federal debt ceiling would be an act of collective insanity,” Buiter, London-based chief economist for Citigroup, wrote in a note dated July 28. “The implications of even a technical U.S. default are likely to be severe both for the U.S. and the world economy, involving a widespread rise in public and private funding costs, a generalized fall in asset prices, and a large hit to economic growth.”

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Asian Markets Fall on Debt Folly and Technology Guidance

Nothing new in debt talks other than the GOP canceling their vote which was postponed twice this evening. Boehner probably can not rally the votes needed for  his debt plan.

Nintendo and Samsung post lower eps & guide lower.

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