links for 2010-08-01
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What Paul Krugman fails to wrap his head around is the fact that money is not synonymous with wealth or capital. When the Federal Reserve prints a million dollars it does not also produce steel, nails, or any other type of capital good. The conflation of money and capital is one
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HAVANA — The Cuban government, trying to create more productive employment, will allow more Cubans to work for themselves and hire their own workers, President Raul Castro said Sunday.
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“The recession was unusually long and unusually severe and has proved unusually resistant to unusual amounts of stimulus,” says Neil Soss, chief economist at Credit Suisse in New York.
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Waters, 71, has been under investigation for a possible conflict of interest involving a bank that was seeking federal aid. Her husband owned stock in the bank and had served on its board.
Michael B. Duff 