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Economy - Economics USA

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The Detroit City Council approved a consent agreement with Michigan, giving up temporary sovereignty over its own financial affairs. A 9-member financial advisory board will run the city's operations and budget.

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• Reuters

Sometimes a little bit of inflation is not such a bad thing. In the United States, prices starting to creep upward shows the deep wounds from the credit crisis are slowly healing and the U.S. economy is well on the road to recovery.

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• http://dailyreckoning.com, By Addison Wiggin

“If you don’t own a home, buy one. If you own one home, buy another one, and if you own two homes, buy a third and lend your relatives the money to buy a home.”

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• New York Times

The deal, which creates an advisory board to oversee financial decisions, spared the city from fates that many viewed as far worse: a complete takeover by a state-appointed manager, bankruptcy or default. But Detroit’s problems are far from over, and

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• By REED SAXON and TRACIE CONE Associated Press

The ubiquitous backyard citrus tree, symbolic of California's agricultural abundance, is front and center in the battle now under way to save the state's nearly $2 billion citrus industry.

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• arclein

For more than a decade, banks and insurance companies convinced local governments, hospitals, universities and other non-profits that interest rate swaps would lower interest rates on bonds sold for public projects such as roads, bridges and schools.

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• http://theeconomiccollapseblog.com

If you knew that you could live in luxury for the rest of your life but that by doing so it would absolutely destroy the future for your children, your grandchildren and your great-grandchildren would you do it?

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