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24 Nov 2007 05:51 pm

Quote For The Day

"In a direct sense, the carnage on Wall Street is all about the great housing slump. This slump was both predictable and predicted. “These days,” I wrote in August 2005, “Americans make a living selling each other houses, paid for with money borrowed from the Chinese. Somehow, that doesn’t seem like a sustainable lifestyle.” It wasn’t," - Paul Krugman yesterday.

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