July 11, 2011 – Over the summer months, all attention will be focused on a more precarious world economic outlook.
Three problem areas need resolution:
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means must be found to deal with the fiscal debt problems of so-called “peripheral” nations in Europe (Greece, Portugal, Ireland, etc.);
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first steps are needed to straighten out the government’s finances in Washington while avoiding a hard crash into the legislated debt ceiling; and
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China’s overheating economy should be cooled through restrictive monetary measures, but these mustn’t be so severe as to bring on a hard landing.
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