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Contrary to media hype which is collapsing the stock market , there is no hard evidence of a recession yet. I do think the Fed has to lower interest rates for business growth and the real estate market.
The things to watch are the price of oil and the weak value of the dollar. If the Chinese revalue the RMB, we will be in real trouble with consumer prices here. They are doing us a big favor holding the line. Probably our biggest closet ally, along with the Saudis (LOL).
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