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Remembering Margaret Thatcher

RealClearMarkets - Without Thatcher, There's No 'Cool Britannia' For Blair: "So while the health of the economies in the U.K. and U.S. presently leaves much to be desired, Margaret Thatcher's sad passing is a good reminder of just how much worse things were before she and Reagan transformed the policy landscape. Our troubles are surely less daunting today thanks to Thatcher and Reagan having so powerfully changed the debate, and even better, the success of their policies at a time when a previous generation had similarly begun to question capitalism provides us with a clear roadmap out of our present difficulties. Though Thatcher has left us, she didn't take her growth-boosting policy ideas with her. In her absence, one way to honor her would be to ask what she did amid troubled times, and mimic it."

Even Margaret Thatcher couldn’t have fixed the mess that the UK economy is in – Quartz: "Either way, those suggesting a repeat of the Iron Lady’s approach to economic policy offers a panacea might do well to recall a quote from another great 20th Century figure, John Maynard Keynes:
Practical men, who believe themselves to be quite exempt from any intellectual influences, are usually the slaves of some defunct economist."
Real Clear Markets - Video - Gross: Here's What We're Buying Now: "Risks are rising, and that has Pimco investing in higher quality, highly liquid investments, bond investor Bill Gross told CNBC. "We're buying what the Fed's buying to avoid the complexities of risk going forward," Gross said. He noted that geopolitical risks are on the rise as tensions build on the Korean peninsula, and there are changes in the euro zone following the Cyprus bailout that may create additional risks investors would want to avoid."

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