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The Carterization Process, Contd.

Moody’s, the much feared bond-rating agency whose downgrades have plunged Europe into chaos, is now warning that US debt may lose its triple A rating.  The last time this happened?  1979 when You-Know-Who was in the White House.  Back in those days the US had to sell “Carter bonds” denominated in foreign currency because people did not trust the dollar.  We could be there again sooner than you think.

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