Epstein Secrets

usiness problem, so credit supply is not a problem for the overwhelming majority." gyid:image001.pnEgOICC2A66.096163B0 [I] As reported by Reuters, Gerald Wynn, November 22, 2010. The material contained herein is intended at a general market commentary. Opinions expressed herein are those of Michael Cembale

t anyone involved in the jobs debate should be required to read the article below, written after the prior deep US recession (1990-1991). It's from George McGovern, one of the most liberal politicians [b] ever to hold office and run for President. His epiphanies after leaving office and running the Stratford In

t—neutral basis. [b] According to methodology described by Keith Poole of the University of San Diego in the American Journal of Political Science, McGovern ranks as the 99th most liberal politician out of 3,320 politicians serving from 1937 to 2002. [c] In a letter to the Wall Street Journal. Reprinted

tries are struggling with below-trend growth and employment. Perhaps after a debt binge, there are no easy answers, other than time. What to do next? McGovern's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief I

ape 1986 1988 1990 1992 1994 1996 1998 2000 2002 2004 2006 2008 2010 Source: National Federation of Independent Business. [f] As reported by Reuters, Gerald Wynn, November 22, 2010. The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembales

ficit-neutral basis. 4 According to methodology described by Keith Poole of the University of San Diego in the American Journal of Political Science, McGovern ranks as the 99" most liberal politician out of 3,320 politicians serving from 1937 to 2002. ' In a letter to the Wall Street Journal. Reprinted with

ted penalties. Note that J.P. Morgan is not a licensed insurance provider. © 2011 JPMorgan Chase & Co. All rights reserved. & As reported by Reuters, Gerald Wynn, November 22, 2010. 3 HOUSE_OVERSIGHT_030012

tries are struggling with below-trend growth and employment. Perhaps after a debt binge, there are no easy answers, other than time. What to do next? McGovern's article suggests that an overly interventionist public sector may be the wrong answer, given the unintended consequences. Michael Cembalest Chief I

ercent reported financing as their #1 business problem, so credit supply is not a problem for the overwhelming majority." [f] As reported by Reuters, Gerald Wynn, November 22, 2010. The material contained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembales