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    Fiscal cliff gives markets economic vertigo

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    euronews (in English)

    by euronews (in English)

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    The US fiscal cliff is so-called because it is a scything, indiscriminate sucking of money out of the economy by the government, to pay its bills.

    The result say many is USA Inc. will take a massive hit, and lost revenues, wasted investments and costs of massive unemployment will far outweigh the savings on the public purse.

    ...
    http://www.euronews.net/