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The US Fed, the ECB, and the Banks of England, Switzerland, Canada, and Sweden's Riksbank got a hold of a gigantic kitchen sink this morning. They aimed it squarely at the global credit crisis which is now spreading faster than the Andromeda Strain and hoped to deal it a knockout blow. The 952-point massacre in Japan's Nikkei may well have been the trigger for the launch button being pushed today. The world appears set to fall into the "Japan Syndrome" any day now...Fine, just make it quick we say.
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