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Some interesting notes

January 27, 2011

They are introducing measures that hinge on “nullification,” Thomas Jefferson’s late 18th-century doctrine that purported to give states the ultimate say in constitutional matters.

I feel like this is something that can be use for A LOT more than healthcare.         Earlier I was thinking about taxes, and how states are might start fighting if there is a bailout?

Japans credit rating was cut by S&P to AA-. It doesnt seem that the world cares all that much yet, but obviously the Yen took a little shot. However, I think Japan wants a weak yen. Their CDS widened only 5bps…so net I think its actually in some ways good for them?

ESRB and Trichet will use “Moral Authority” to manage risk. <a href="“>Contrast this with:

the governor of the Bank of England, Mervyn King, warned that Britain had been facing a sustained squeeze on living standards on a scale not seen since the 1920s. Yet although a fall in real take-home pay for six years running is especially severe, there is nothing new about a squeeze on wages.

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In summary: austerity and protectionism.

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