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Within the U.S., the Obama presidency will be mainly measured by the success or failure of his economic policies. And here, I fear, the monstrous stimulus package with which this administration stumbled out of the gate will prove to be Obama's Waterloo. ↗
There was a real fear that a euro-zone bank might fail, that we'd have a sovereign debt problem in one of the larger European economies. That's dissipated, thanks largely to the action of the European Central Bank. ↗
