"The past week began with yet another U.S. government led rescue of a major U.S. financial institution – this time it was actually two rescues, Freddie Mac and Fannie Mae – and ended with talk of yet another U.S. government "encouraged" rescue of a major Wall Street investment banking concern. These events – once thought unthinkable and now almost commonplace- overshadowed the economic data released, which is all but confirmed that third quarter economic growth in the United States will be close to zero and that inflation likely peaked for the cycle in July or August 2008".

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