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$80 Billion Bond Funds Sell-Off in June

Written by Gary North on July 1, 2013

Investors bailed out of American bond funds in June. There was a net redemption in bond funds of at least $80 billion, late May to late June. The trigger was the statement of Federal Reserve Chairman Ben Bernanke on May 22 that the FED might stop buying Treasury bands later this year. That spooked investors. […]

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Consumers Hit the Brakes, Reduce Credit Card Borrowing

Written by Gary North on May 8, 2013

American consumers in March decided to slow their rate of borrowing on their credit cards. This caught economists by surprise. In February, they borrowed $18.6 billion. That looked as though the recovery was taking hold. But in March, they hit the brakes: $7.97 billion. “Estimates of the 31 economists surveyed by Bloomberg ranged from gains […]

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Recession Spreads in Europe, Threatens the USA

Written by Gary North on April 29, 2013

The recession in Europe has spread into every large nation. Still, price are rising. The European Central Bank is powerless. It has officially set lending rates at 0.75%. Still, the economies are crashing. Greece has a 27% unemployment rate. So does Spain. Now there is talk of a rate cut by the ECB. To which […]

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Despite Excel Error, This Time, It’s Still Not Different

Written by Gary North on April 17, 2013

The best-selling book, This Time It’s Different (2010) , which warned against a high government debt-to-GDP ratio, relied on an Excel spreadsheet. Problem: one of the cells was wrong. An article exposing this error has gotten a lot of coverage in the media. Liberals have cheered. At last, relief! They can still remain in the […]

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Foreign Central Banks Keep Buying U.S. Treasury Debt

Written by Gary North on April 16, 2013

Latest report: foreign holdings of U.S. government debt are up by 10%, year over year. China has been buying. It now holds $1.2 trillion. The total comes to $5.66 trillion. Of this, 72% is held by foreign governments and central banks. This policy of inflating the domestic currency and buying U.S. Treasury debt with the […]

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The Triumvirate of Modern Warfare

Written by Gary North on April 15, 2013

Three factors have made possible the modern world’s wars: graduated taxation, the central bank, and the abolition of the gold coin standard. The relationship between central banking and war has been known for at least 400 years. The ability of the Dutch Republic to wage what was in effect a revolutionary war against the Spanish […]

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