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November 11, 2008

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I show the BOE at 3% to banks vs 1% Fed Funds- plus less subprime toxicity in UK - ergo despite pleasant drop at the pump, deflation won't be as dramatic or beneficial here. Fully agree on the preposterous bailout as pro-inflationary scam to maintain delta between avg income and real estate prices, driving up income and thus more taxpayers into higher brackets, and keeping crappy bankers employed.

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