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SMW for 19 July 2023




AT THE CLOSING BELL ON 19 July 2023


Dow Jones 35,061.21 +109.28 (0.31%)
S&P 500 4,565.72 +10.74 (0.24%)
Nasdaq 14,358.02 +4.38 (0.030%)

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DU Economics Group Contributor Megathreads:

Progree's Economic Statistics (with links!)
mahatmakanejeeves' Rail Safety Megathread
mahatmakanejeeves' Oil Train Safety Megathread

Quote for the Day:

This immensity of early-twenty-first-century finance dwarfs the comparative expansion of railroad mileage, debt, and power in the 1850s and 1860s. Still, there is an unfortunate parallel to railroading's domination of federal, state, and local politics, as well as to its ability to long fend off most attempts at regulation. Financial services enjoyed a kindred position in the 1980s and 1990s. As innovation, computerization, and broad deregulation opened up grand vistas, politicians whose eyes saw contributor dollar signs at the very mention of names such as Citigroup, Merrill Lynch, and Goldman Sachs kept day-to-day regulators saluting respectfully.

Kevin Phillips. American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21st Century. Viking / Penguin. © 2006.