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It'll Get Worse Before It Gets Better
September 30, 2008



Failure vs Bailout

Even though our Congress clearly said that it would have a Bailout plan in place before the weekend, here we are on Monday watching the largest single day Dow decline in history. If you were heavily into stocks as a prime investment vehicle, you will have some ulcerous times ahead, but if you sell, where do you plan to go with what is left?

Many professional and amatuer economists have voiced a myriad of opinions over the last week and I have posted links to several of the most intereting comments I have read. Today I'd suggest that you read Jeffrey Miron's comments at CNN and consider, even with todays initial plunge, that perhaps failure of several large investment firms could be less damaging than a $700,000,000,000 government/taxpayer financed bailout, which would further dilute the strength of our nations currency.



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About the Author
Tom Michael has been Krause Publications primary market analyst on more than 80 world and United States coin catalogs produced over the last 20 years. He came to KP in 1987 with a bachelor of arts degree in history, a master of arts degree in economics and a history of coin collecting stretching back to the 1960s. He began collecting world coins as a child by asking friends and relatives to bring coins back from overseas trips, visiting flea markets and having his mother watch for foreign coins in her register at the local grocery store. Today he works with a dedicated base of over 200 contributors to provide accurate market values for the five-volume Standard Catalog of World Coins series, as well as many specialty catalogs, including Coins & Currency of the Middle East and the fifth edition of Unusual World Coins.

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