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KDakotaFund (25.23)

August 2010



Roubini: Third-Quarter US Growth to Be 'Well Below' 1 Percent

August 26, 2010 – Comments (4)

Growth in the United States will fall “well below” 1 percent in the third quarter, said Nouriel Roubini, a New York University economist.

The chances of another recession are at 40 percent, he wrote in an email to Bloomberg.

“With growth at a stall speed of 1 percent or below, the stock markets could sharply correct, and credit spreads and interbank spreads widen while global risk aversion sharply increases," Roubini said.

"Thus a negative feedback loop between the real economy and the risky asset prices can easily then tip the economy into a formal double-dip,” Roubini said.  [more]



Trader nailed with $172 million bill in back taxes

August 25, 2010 – Comments (13)

He failed as a day-trader and barely survived in New York on a beer budget, but Marcos Esparza Bofill has been hit with a $172 million tax bill by the IRS.  [more]



John Stossel - Leaving America

August 23, 2010 – Comments (3)

Economist Mark Skousen, the organizer of Freedom Fest – an annual gathering of libertarians – says that fighting for freedom this year is more critical than usual. He writes on Freedomfest’s website:  [more]



The Policeman Is Not Your Friend

August 20, 2010 – Comments (11)

A little off topic, but I know some of you will appreciate this:

The Policeman Is Not Your Friend



McCullough: US Economy Near Point of No Return

August 13, 2010 – Comments (0)

The Federal Reserve’s decision to expand its quantitative easing by purchasing more Treasuries is a dangerous one, says Keith McCullough, CEO of research firm Hedgeye.

“That could lead the country to the brink of collapse,” he wrote in a Fortune magazine column.

McCullough agrees with economists Carmen Reinhart and Ken Rogoff, who recently wrote that government debt in excess of 90 percent of GDP pulls down economic growth.

“It's a point from which it's almost impossible to return,” McCullough wrote.  [more]

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