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Pastimes : Rage Against the Machine
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To: stockman_scott who wrote (856)10/25/2003 2:48:25 PM
From: Thomas M. of 1296
 
James Grant:

"The growth locomotive of the world economy is a communist state with a banking system that resembles the Texas S&L industry at the peak of the Dallas real estate delusion. The biggest and most dynamic stock market in the world trades near the high end of its historic valuation range, and the unchallenged global currency is the emission of a country that is running a current account deficit equivalent to 5% of GDP."
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