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Home | How Washington is destroying the economy |
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How Washington is destroying the economy
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- August 19, 2011
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Standard & Poor's, the bond-rating agency, downgrades the U.S., and the world trembles. The markets here go nuts on the first trading day after the downgrade, losing $1 trillion in value. European Union finance chiefs are playing Whac-a-Mole with members' debt problems. And England ... England was literally burning. Only three short years ago we were all terrified when our financial system was on the brink of disaster after Lehman Brothers went broke in September of 2008. Those scary times seemed to have disappeared in the spring of 2009. But now those fears are back -- and things are even scarier, the stock market's "green" days notwithstanding. Our current mess is different from the Lehman-related horror because it stems primarily from politics, not economics.
- Read more at:http://rss.cnn.com/~r/rss/money_topstories/~3/13nAbJ9jePw/
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