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	<title>New Jersey CFO</title>
	<link>http://honorofgod.org/blog9</link>
	<description>It&#039;s Not Business As Usual</description>
	<lastBuildDate>Sun, 05 Feb 2012 21:50:59 +0000</lastBuildDate>
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	<language>en</language>
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		<title>What If Obama &amp; Krugman Tried to Run a Business?</title>
		<description><![CDATA[We must keep in mind that the purpose of business is to serve the interests of the work force, not the consumers to whom we will eventually try to sell our products. After all, in the recent Atlantic cover story, “Making It in America,” we were confronted with the tragic story of an auto-parts factory in <a href='http://honorofgod.org/blog9/2012/02/05/what-if-obama-krugman-tried-to-run-a-business/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/02/05/what-if-obama-krugman-tried-to-run-a-business/</link>
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		<title>As Obama Crows, Real Story Is 10.5 Million Jobs Deficit</title>
		<description><![CDATA[According to data from the Federal Reserve Bank of Minneapolis, the economy is just 0.7% above its previous high. Usually at this point in an expansion, it&#8217;s 13.5% above the last peak. In other words, thanks to Obama&#8217;s policies, we&#8217;re missing about $1.8 trillion in GDP — or roughly $5,760 for every man, woman and <a href='http://honorofgod.org/blog9/2012/02/05/as-obama-crows-real-story-is-10-5-million-jobs-deficit/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/02/05/as-obama-crows-real-story-is-10-5-million-jobs-deficit/</link>
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		<title>Most U.S. Manufacturing Jobs Gone for Good</title>
		<description><![CDATA[Yet “a small business trying to grow its market share is not going to have a decision driven by a tax break,” he continued. “It’s not the cost of labor. The issue is components. Our Buttkicker requires steel, aluminum, copper, a circuit board, chips and resisters, plugs and power adapters. . . These components still <a href='http://honorofgod.org/blog9/2012/02/05/most-u-s-manufacturing-jobs-gone-for-good/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/02/05/most-u-s-manufacturing-jobs-gone-for-good/</link>
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		<title>Fannie Ignored 2006 Warnings About Widespread Mortgage Abuses</title>
		<description><![CDATA[&#8230;and possibly so did Newt Gingrich From Naked Capitalism: Gretchen Morgenson of the New York Times reports on an ugly bit of mortgage market history: that Fannie Mae was told in 2006 to address the derelict behavior of its servicers and foreclosure mills yet chose to do pretty much nothing about it. Read the Rest&#8230;]]></description>
		<link>http://honorofgod.org/blog9/2012/02/05/fannie-ignored-2006-warnings-about-widespread-mortgage-abuses/</link>
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		<title>Secular Hegemony</title>
		<description><![CDATA[The end of five thousand years of Greek struggle. The EU will do what Persia couldn&#8217;t. The German government proposed last week that a European commissioner be appointed to supplant the Greek government. While phrasing the German proposal this way might seem extreme, it is not unreasonable. Under the German proposal, this commissioner would hold <a href='http://honorofgod.org/blog9/2012/02/05/secular-hegemony/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/02/05/secular-hegemony/</link>
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		<title>Make Crony Capitalism the Issue in 2012</title>
		<description><![CDATA[The issue of crony capitalism should be front and center in this campaign. President Obama defends his cronies instead of the so called 99 percent. That&#8217;s his contradiction. Big Labor, Big Business and Big Green Energy are collections of cronies with big jobs, big salaries and big privileges. Nothing to do with the 99 percent. <a href='http://honorofgod.org/blog9/2012/01/22/make-crony-capitalism-the-issue-in-2012/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/01/22/make-crony-capitalism-the-issue-in-2012/</link>
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		<title>COUNTDOWN TO MARCH 2012</title>
		<description><![CDATA[GROWING WORRIES IN ATHENS A Greek Default Would Hit the ECB Hard Hopes that Greece can be saved are dwindling. Athens had hoped to reach a deal with its creditors on a 50 percent debt haircut, but banks have now made it clear that efforts to reach an agreement could fail. Should the country go <a href='http://honorofgod.org/blog9/2012/01/16/countdown-to-march-2012/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/01/16/countdown-to-march-2012/</link>
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		<title>I FINALLY FOUND A TREE!</title>
		<description><![CDATA[&#160; Polar bears and Asian lions are particularly enticed by the Christmas tree smell, according to zookeepers. They say it stimulates their behavior. Here, a polar bear at the Berlin Zoo is shown in an archive photo.]]></description>
		<link>http://honorofgod.org/blog9/2012/01/16/i-finally-found-a-tree/</link>
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		<title>2012 could be the year Germany lets the euro die</title>
		<description><![CDATA[Germany will not be able to fudge EMU any longer. It must either immolate itself, accepting a debt union and internal inflation to save a currency it never wanted and doesn&#8217;t love; or opt instead to uphold fiscal sovereignty and the essence of its own democracy, and let the Project die. The shrewd, equivocating, ice-cold <a href='http://honorofgod.org/blog9/2012/01/03/2012-could-be-the-year-germany-lets-the-euro-die/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2012/01/03/2012-could-be-the-year-germany-lets-the-euro-die/</link>
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		<title>Oxymorons</title>
		<description><![CDATA[1. Is it good if  a vacuum really sucks?   2. Why is the third hand  On the watch  Called the second hand?   3. If a word is misspelled  In the dictionary,  How would we ever know?   4 If Webster wrote the first dictionary,  Where did he find the words?   5. Why <a href='http://honorofgod.org/blog9/2011/12/31/oxymorons/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/31/oxymorons/</link>
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		<title>The Most Important Economic Chart Of The Year</title>
		<description><![CDATA[courtesy of Spiegel Online: This chart illustrates the end of euro complacency. Investors once acted as though the euro eliminated not just currency risk but sovereign credit risk. All nations–from Greece to Germany–could borrow at the same low rates. No longer. As the financial crisis enters its fifth year, markets are again distinguishing between strong <a href='http://honorofgod.org/blog9/2011/12/26/the-most-important-economic-chart-of-the-year/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/26/the-most-important-economic-chart-of-the-year/</link>
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		<title>Signs Point to Economy&#8217;s Rise, but Experts See a False Dawn</title>
		<description><![CDATA[“Unfortunately, I think we’re going to see a slowdown over the course of next year,” Ethan Harris, co-head of global economics research at Bank of America Merrill Lynch, told reporters last week. “Not only do we have the European crisis spilling over and hurting U.S. trade and confidence,” he said, but the United States economy <a href='http://honorofgod.org/blog9/2011/12/23/signs-point-to-economys-rise-but-experts-see-a-false-dawn/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/23/signs-point-to-economys-rise-but-experts-see-a-false-dawn/</link>
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		<title>Political Realities Threaten To Split The Eurozone</title>
		<description><![CDATA[Nicolas Sarkozy will be the only French president since World War II with two recessions under his watch, if the forecast by the National Institute of Statistics and Economics (Insee) turns out to be correct. Recessions are rare in France: between the end of the war and the beginning of the financial crisis, there were <a href='http://honorofgod.org/blog9/2011/12/18/political-realities-threaten-to-split-the-eurozone/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/18/political-realities-threaten-to-split-the-eurozone/</link>
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		<title>Fragile and Unbalanced in 2012</title>
		<description><![CDATA[Policymakers are running out of options. Currency devaluation is a zero-sum game, because not all countries can depreciate and improve net exports at the same time. Monetary policy will be eased as inflation becomes a non-issue in advanced economies (and a lesser issue in emerging markets). But monetary policy is increasingly ineffective in advanced economies, <a href='http://honorofgod.org/blog9/2011/12/17/fragile-and-unbalanced-in-2012/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/17/fragile-and-unbalanced-in-2012/</link>
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		<title>Greeenspanism</title>
		<description><![CDATA[Now the system desperately clings to some magical hope of saving itself, and thus this kind of artificial economy. An economy where activity is not marginally predicated on productive endeavors of work and earned income, but of the shifting and constant transference of paper currency and claims, created by the whims of flawed mathematical calculations. <a href='http://honorofgod.org/blog9/2011/12/10/greeenspanism/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/10/greeenspanism/</link>
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		<title>More &#8220;collateral damage&#8221;</title>
		<description><![CDATA[A new proposal by the New York Stock Exchange to trade retail orders in increments of a 10th of a penny—down from today&#8217;s one-cent ticks—is meant partly to restore the confidence of retail investors by keeping the exchange competitive with alternative trading platforms. &#8220;We&#8217;re trying to further improve the quality of order flow for retail <a href='http://honorofgod.org/blog9/2011/12/10/more-collateral-damage/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/10/more-collateral-damage/</link>
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		<title>Mall Rats Can’t Bring About the Wealth of Nations</title>
		<description><![CDATA[there is something fundamentally wrong with a culture that promotes spending as the key to health and wealth. A multidecade borrowing-and-spending binge whittled the U.S. savings rate from an average of 9.6 percent in the 1970s, to 8.6 percent in the 1980s, to 5.5 percent in the 1990s, to 3.3 percent in the 2000s. At <a href='http://honorofgod.org/blog9/2011/12/04/mall-rats-can%e2%80%99t-bring-about-the-wealth-of-nations/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/04/mall-rats-can%e2%80%99t-bring-about-the-wealth-of-nations/</link>
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		<title>The evidence is building that global growth has stalled. And it&#8217;s about to get much worse.</title>
		<description><![CDATA[I think the most notable development this week was Thursday&#8217;s big release of global factory activity surveys. It wasn&#8217;t pretty. Overall, the JP Morgan Global Manufacturing PMI dropped for the third straight month and fell below the 50 level &#8212; the line of demarcation between growth or contraction in monthly factory activity &#8212; for the <a href='http://honorofgod.org/blog9/2011/12/04/the-evidence-is-building-that-global-growth-has-stalled-and-its-about-to-get-much-worse/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/12/04/the-evidence-is-building-that-global-growth-has-stalled-and-its-about-to-get-much-worse/</link>
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		<title>A Future Prediction</title>
		<description><![CDATA[The governments, regulators and bullion banks have let the silver market get more and more leveraged. We’ve seen a lot of wealth destruction as a result of this leverage and we’re going to see a lot more until, finally, the governments decide to change the system I don’t buy the argument on margin hikes at <a href='http://honorofgod.org/blog9/2011/11/27/a-future-prediction/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/27/a-future-prediction/</link>
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		<title>Time To Move To Cash?</title>
		<description><![CDATA[Is it time to exit the stock market and move to cash? What looks like the most logical move for stock investors may not end up being the best move. We have a situation in Europe that is teetering on the brink of full-blown crisis that would likely result in a global financial contagion. Such <a href='http://honorofgod.org/blog9/2011/11/27/2050/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/27/2050/</link>
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		<title>How a &#8220;Bad Bank&#8221; appears to be a &#8220;Good Bank&#8221;</title>
		<description><![CDATA[it is in the bank&#8217;s best interest to ensure that the &#8220;thickness&#8221; of the equity tranche is maximized (for both a bank and a securitization structure). However, since it is perceptions of thickness that matter, believable means to achieving equity buffers are far more effective. Contrast that need with a bank on a physical fractional <a href='http://honorofgod.org/blog9/2011/11/20/how-a-bad-bank-appears-to-be-a-good-bank/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/20/how-a-bad-bank-appears-to-be-a-good-bank/</link>
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		<title>What They Don’t Teach Law Students: Lawyering</title>
		<description><![CDATA[For decades, clients have essentially underwritten the training of new lawyers, paying as much as $300 an hour for the time of associates learning on the job. But the downturn in the economy, and long-running efforts to rethink legal fees, have prompted more and more of those clients to send a simple message to law <a href='http://honorofgod.org/blog9/2011/11/20/what-they-don%e2%80%99t-teach-law-students-lawyering/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/20/what-they-don%e2%80%99t-teach-law-students-lawyering/</link>
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		<title>the slow death of an institution that was once at the heart of small-town America</title>
		<description><![CDATA[The U.S. Postal Service (USPS) has been sliding down an unsustainable fiscal path for years. A toxic combination of a poor economy, an increase in online bill paying, the proliferation of e-mail and other digital communication, and congressional mandates have created billion-dollar deficits for the USPS since 2007. Last year it lost $8.3 billion. This <a href='http://honorofgod.org/blog9/2011/11/20/the-slow-death-of-an-institution-that-was-once-at-the-heart-of-small-town-america/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/20/the-slow-death-of-an-institution-that-was-once-at-the-heart-of-small-town-america/</link>
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		<title>Prepare For Europe Collapse Before New Year</title>
		<description><![CDATA[It’s official: The European Financial Stability Facility (EFSF) plan announced at the EU summit on October 27th is essentially dead prior to arrival. As a consequence, Angela Merkel and Nicolas Sarkozy appear to be betraying signs of throwing in the towel on the Euro project as it exists today. They appear to be actively contemplating <a href='http://honorofgod.org/blog9/2011/11/12/prepare-for-europe-collapse-before-new-year/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/12/prepare-for-europe-collapse-before-new-year/</link>
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		<title>The idea of war for and on another planet</title>
		<description><![CDATA[Meanwhile, the Chinese, twenty years ago, set up a plan for space which they are steadily achieving.  They have hit every target so far, Paul Murdin said, though not precisely on time.  Their next big goal is to colonise the Moon and he’s quite sure that they will.  This scares the USA, he says, because <a href='http://honorofgod.org/blog9/2011/11/06/the-idea-of-war-for-and-on-another-planet/'>[...]</a>]]></description>
		<link>http://honorofgod.org/blog9/2011/11/06/the-idea-of-war-for-and-on-another-planet/</link>
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