Debt-Financed Everything

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Debt-Financed Everything

The truth behind California’s pension shortfall
Eric Fry, www.dailyreckoning.com, 05/24/2010
The forces that have been tormenting the financial markets were nowhere to be seen last Friday. Maybe they decided to take a long weekend. Whatever the case, the Dow Jones Industrial Average rebounded 125 points, several European markets produced modest gains and the euro advanced for the [...]

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