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Central Missouri | Just a thought but in years past if budget cutting occured a corresponding reduction in interest rates would spur economic activity more than the budget cuts contracted it. Being short rates are already at zirp, that policy provision is gone unless the fed is sucessful at lowering long rates another percent or 2. If you look at Greece, they were forced to cut budget after they had hit the point of no return and investors had already lost confidence in their debt instruments on top of the fact Greece couldn't print like we can. jmo | |
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US Budget Crisis Video
