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2013 Fourth Quarter Recap and Outlook

The Economy The economic environment in the fourth quarter was one defined by slow but steady improvement in many segments. The gains were enough to both underpin a continued rise in the stock market and prompt the Federal Reserve…

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The Modern Debt Spiral

Any continued rise in prices is dangerous because, once we begin to rely on its stimulating effect, we shall be committed to a course that will leave us no choice but that between more inflation, on the one…

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