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ARITHMETIC MATTERS

…growing by about eight percent annually for the next decade. In the next — by the mid-2030s, the 65 and over population will nearly double, and health care costs, which…

Stock Market Adjustment

…much of the lower growth is already discounted. The consensus had been for double digit earnings gains in 2011. But now it appears that earnings growth will be less than…

CPI

…and the unemployment rate an equal weight as compared to most versions of the Taylor Rule that give inflation roughly double the weight of unemployment or growth. But this implies…