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The World's Problem with the US's Debt Problem
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The World's Problem with the US's Debt Problem

Our Correspondent
Aug 04, 2011
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The World's Problem with the US's Debt Problem
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The American television drama, complete with clocks ticking toward a default Armageddon, has finally ended. It was always more theater than real crisis. Markets rightly guessed that even US politicians would balk at responsibility for default.

The dollar has weakened, but there has been no mass flight from US bonds or a repeat of the contagion which foll…

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