Bond Outlook [by bridport & cie, June 17th 2009]
Suppose a person with a serious lung disease catches flu, and undergoes intensive treatment for only the latter ailment; does overcoming it mean their underlying problem has been solved? The same question begs itself of the US and related economies with regard to the much-trumpeted resolution of the banking and financial market crisis. Is the crisis the cause or merely the symptom? Our sick person’s flu may come as a result of his lung problem, but it is not the root cause. |
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