Economics and Investing:

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Caterpillar to close Illinois plant, lay off 800 workers – G.P.

HJL’s Comment: This is news that has been expected. Caterpillar was making a killing selling product to China when China’s economy was booming. Now that China is feeling the effects of overspending and has quit buying the heavy equipment, Caterpillar has way too much capacity for the market.

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Zuma’s Night of Long Knives Risks ANC Split, Credit Rating.

JWR’s Comment: Note the huge drop in the value of the South African Rand (ZAR) versus the U.S. Dollar (USD) in the past week. This level of instability does not bode well!

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Precious Metals And Miners Are Set To Drop In April

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The Cumulative Effective Tax Rate – H.L.

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