Economics and Investing:

IRS Budget Cuts: Tax Administration v. Tax Handouts ^[1] – PLC

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Most new US jobs are in vulnerable industries — food, drink, office temp, transactional stuff like banking, etc. — and it’s hard to see where tomorrow’s debt service payments will come from. ^[2]

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Wal-Mart’s ex-CEO Mike Duke joins private equity firm Carlyle ^[3]. – RBS

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THE U.S. GOLD MARKET: Completely Insane ^[4]

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Meet the latest country with negative interest rates ^[5]. – S.B.