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David Hale Podcast (August 5, 2011): Reaction to the Debt Ceiling Deal, July Employment Report, and Widening European Bond Spreads

Dear Clients, David Hale has recorded a new podcast in which he analyzes the economic developments that have weighed heavily on global capital markets this week. The following subjects are explored at length in the podcast: • Why the debt ceiling deal will only increase the amount of fiscal drag that the US economy will have to overcome in 2012 • Why the July employment report should help to stem the stock market declines, but that state and local governments will continue to shed tens of thousands of jobs every month for some time to come • How lingering market concerns about the new Greek bailout package have contributed to the recent spikes in Spanish and Italian bond yields This podcast can be accessed by dialing: Dial-in Number: 1-347-614-1000 Passcode: 578332 Additionally, you can still register for our website and gain full access to our archives. Follow these steps to activate your account: 1. Enter the following URL: http://www.davidhaleweb.com/login/?action=register 2. Enter in a username of your choice and your corporate e-mail address in the appropriate fields 3. You should receive a system-generated temporary password at that e-mail address immediately after clicking “register” 4. Return to http://www.davidhaleweb.com/login 5. Enter in your chosen username and the temporary password and click “login” As always, we welcome any comments or feedback you may have. Sincerely, Mark Zoff Director of Research DAVID HALE GLOBAL ECONOMICS INC. 546 Lincoln Ave #2A Winnetka, IL 60093 Tel: 847-386-6009 Fax: 847-386-6011 Mob: 651-334-1852 E-mail: markzoff@davidhaleweb.com Website: www.davidhaleweb.com We are pleased to announce that What's Next: Unconventional Wisdom on the Future of the World Economy, a compendium of economic forecasts from pre-eminent independent economists, is available for purchase. Copyright 2011, David Hale Global Economics Inc. All rights reserved. Please do not forward the attached document to individuals not authorized by David Hale Global Economics to receive it. It contains confidential information and is intended only for the individual named. This document is not for attribution in any publication, and you should not disseminate, distribute or copy this e-mail without the explicit written consent of David Hale Global Economics. <?xml version=.0" encoding=TF-8"?> <!DOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.0.dtd"> <plist version=.0"> <dict> <key>conversation-id</key> <integer>98690</integer> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <integer>1312575305</integer> <key>flags</key> <integer>8590195713</integer> <key>remote-id</key> <string>54409</string> </dict> </plist>