"Economists are pessimists: they've predicted 8 of the last 3 depressions."
--Barry Asmus

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Thursday, April 7, 2011

World News! Now With 100% Less Spiders!

  • The European Central Bank, acting on fears of increasing inflation, has raised interest rates by 25 bps to 1.25%.  The ECB is specifically concerned that oil prices could boost inflation.  Far from being surprised, European financial markets are actually pricing in expectations that there will be at least two additional 25 bps increases this year.
Ivory Coast
The Whole Wide World

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