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History suggests that this is just another crisis like many others, and this too shall pass.
The current housing and banking crises are both unique and severe. Billions of dollars of wealth have disappeared over the last year, in some cases in just a matter of days. Companies that have been household names have gone bankrupt, with others on the verge of failing as this article is being written. Make no mistake; these are scary times with both professionals and the public wondering if their money is safe. Is this the end of the U.S. financial system?
Although we cannot predict the future and suspect that anything is possible, history suggests that this is just another…
21Sep2008 | Managing Money | Comments Off | ContinuedPrepare to Profit From the Trillion Dollar U.S. Budget Deficit
The federal budget deficit hasn’t received a lot of press lately, what with all the worries about the U.S. financial system, the home mortgage market, and the rescues that might be necessary to save both. In fact, it’s a bad sign, since the Bush administration and the Democrats in Congress have joint responsibility for keeping the budget deficit under control, so they would both be crowing about it if they were doing a good job.
We already know the budget deficit is going to return to the $400 billion level – actually $410 billion – in Fiscal 2008, which ends…
25Jul2008 | Money Morning | Comments Off | Continued
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