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Last week there was a lot of economic reporting. US retail numbers apparently still saw some growth in June, with a 0.3% positive surprise, while inflation at 9.1% hit a 40-year record, Europe is not much better, with inflation at 8.6% and the euro dropping to parity with the dollar for the first time in 20 years. Even China provides no relief, its Q2 GDP growth dropped to just +0.4% and anecdotal reports from the frontlines report weak demand in ...

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