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Economics and Investing:

France’s new Socialist President François Hollande is calling for a 75% income tax! Indigestion for ‘les Riches’ in a Plan for Higher Taxes [1]. If this is enacted, expect to see a wave of emigration.

Items from The Economatrix:

Has The Perfect Moment To Kill The Dollar Arrived? [2]

The US Economy Lost 1.2 Million Jobs In July [3]

Oil Drops From Two-Month High in New York as Demand Slides [4]