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Early this year I wrote "The Perfect Economic Storm", in which I suggested that an economic meltdown of epic proportions was likely in 2005. I picked three main reasons - an oil shock (which is now occuring), the housing bubble bursting (which is looking likely) and a currency meltdown (likewise). But really, as usual I was tripped up by the second rule of Bush: Not only is it worse than you think, it's worse than you can possibly imagine. Which means even this post probably isn't pessimistic enough. Nonetheless, let's take a quick run through the US economy's prospects for 2005
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