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Europe: Still lurking

Shadow banking and inflation


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Capital Accounts is Back

Our favorite show these days. We sure live in a strange world where Russia is outperforming the United States on financial reporting and analysis. Are the U.S. employment problems structural or cyclical? My vote is that we should rename the Wall Street Journal "Pravda" and CNBC "Pravda TV." With the DNC looming, it was obvious that none of the mainstream political thinkers were keeping the shadow banking industry in its sights.


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