I was struck by a recent post on Naked Capitalism, Looking for the Sun. The opening lead starts out,
2009 will be a grim economic year. The unemployment rate will rise all year, house prices will fall, commercial real estate (CRE) will get crushed … but there might be a few rays of sunshine too.
What struck [...]
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There is no mystery about the different treatment of financial and manufacturing firms. Political power in our country is tightly tied to the economic and profit contribution of a sector. For the last 50 years, the finance sector has been growing and the manufacturing sector has been declining, with the trends accelerating hugely since the [...]
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