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Economy - International

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Michael Shedlock / Mish

The U.K. Economy is joining the U.S. economy, in reverse. And there is indeed nothing either the Fed or the Bank of England can do about it.

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Asia Times

The position of American households is so fragile that major institutions might fail. Washington Mutual, America's largest thrift institution, is now trading at a tenth of its 2007 stock price. It is not clear whether any other institution is wil

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He was crystal clear over a year ago that gasoline was headed straight to $4.00 a gallon and he says he knows why. Williams became an oil industry insider by virtue of his success at mediating labor disputes in the Alaska oil fields.

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New York Times

Four Western oil companies are in the final stages of negotiations this month on contracts that will return them to Iraq, 36 years after losing their oil concesion to nationalization as Saddam Hussein rose to power. Exxon Mobil,Shell,Total and BP

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AP

Argentina, one of the world's biggest breadbaskets, should be rolling in cash as world food prices soar. Instead, soy, wheat and corn have sat for weeks in silos as farmers protesting new export taxes suspended sales.

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Financial Times

"Loose monetary policy in the US will increase domestic liquidity in Asian economies whose currencies are closely aligned with the dollar. This will complicate monetary policy at a time when domestic inflationary pressures are already being stok

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Associated Press

The Federal Reserve announced Friday that it will expand a series of efforts to deal with the global credit crisis, in coordination with European central banks. The Fed said it was boosting the amount of emergency reserves it supplies to U.S. banks

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Michael Shedlock / Mish

The Bank of England has warned that banks' fears of a financial meltdown may become a self-fulfilling prophecy. Banks previously over-willing to lend are now too reluctant, even with credit-worthy borrowers, it suggests.

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Reuters

Iranian President Mahmoud Ahmadinejad pushed to seal a $7.6 billion pipeline deal linking the world's second-largest gas reserves to growing South Asian economies, despite opposition from the United States. Ahmadinejad met Prime Minister Manmohan