Will China change its economic ways? A key test looms

Will China change its economic ways? A key test looms

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Revised GDP and initial claims numbers pass the crucial test–they’re no worse than expected

Not terrible and no worse than expected. How’s that for a ringing endorsement of the U.S. economy? The latest revision of figures on the growth rate of the U.S. economy in the second quarter, released this morning, show the economy growing at a 1.7% annual rate. That’s up just slightly from the previous revision that showed a 1.6% annual growth.

The Irish–and euro–crisis is worse this morning

The Irish crisis deepens—at least as judged by spreads on Irish government bonds. Yields on Irish government bonds hit records on Tuesday, September 28.The immediate cause of the jump in Irish yields was an announcement that on Thursday the government will unveil a plan to pump more money, a projected $6.7 billion, into Anglo Irish Bank