``I must give him his due. He has considerably cretinized me.'' Lautréamont

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Friday, January 18, 2008

Fed Chief’s Reassurance Fails to Halt Stock Plunge (NYT)

Stagflation offered.

Recession is how you stop people from doing the wrong things.

It doesn't work on government. Just the opposite.

WASHINGTON — The stock market plunged again on Thursday on bad economic news, taking little comfort from reassuring words by the chairman of the Federal Reserve or an emerging consensus about a stimulus plan that many worry could be too late.


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