Economics
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Fri 3 Aug 2007
By Robert Kuttner | July 30, 2007
Boston Globe
HISTORICALLY, October has been the month for big financial busts. But this year, October could come early.
Investors and ordinary citizens have good reason to worry about a perfect economic storm: a deepening loss of confidence in the dollar leading to higher interest rates; the higher rates bringing a crashing end to a hedge-fund, private equity, and merger binge that has depended heavily on cheap borrowed money; the boom in bait-and-switch mortgages ending in a morning-after of rising defaults and sinking housing values; inflationary pressures in food, oil, and other commodities leading to still higher interest rates — all unsettling stock and credit markets and putting a new squeeze on consumers borrowed to the hilt. (more…)
Thu 5 Jul 2007
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Sun 3 Sep 2006
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