Good morning. A traditional start of this Best of the Web: Coffee

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Good news, of sorts. ???Portugal makes fiscal progress in the shadows??? according to the FT

http://www.ft.com/intl/cms/s/0/2521d588-f109-11e1-89b2-00144feabdc0.html#axzz24s8RU7mI

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And we have a plus!!! Now let???s hope that it will last longer than in 2010???

?????????????????? http://www.businessinsider.com/chart-of-the-day-case-shiller-house-prices-go-positive-2012-8

?????????????????? http://www.reuters.com/article/2012/08/28/us-usa-economy-homes-index-idUSBRE87R0IW20120828

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???and let???s not look at the development of the real house prices for a second???

?????????????????? http://www.calculatedriskblog.com/2012/08/house-price-comments-real-house-prices.html

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???and here some background on the distressed share in home selling

?????????????????? http://blogs.wsj.com/developments/2012/08/27/why-home-prices-are-rising-the-distressed-share/

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US firms move abroad to lower the tax bill. I think it would be a lot more shocking if it where the other way round???

?????????????????? http://online.wsj.com/article/SB10000872396390444230504577615232602107536.html

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Not all that surprising, but interesting too see: especially the younger Americans have negative home equity.

?????????????????? http://www.theatlantic.com/business/archive/2012/08/how-young-homeowners-lost-out-by-buying/261612/

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Some technical reading about the IOER???

?????????????????? http://libertystreeteconomics.newyorkfed.org/2012/08/interest-on-excess-reserves-and-cash-parked-at-the-fed.html

?????????????????? http://pragcap.com/on-lowering-interest-on-reserves

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Old news, still interesting though: what the US debt would have looked like without wars and tax cuts???

?????????????????? http://www.washingtonpost.com/blogs/ezra-klein/wp/2012/08/28/republican-national-convention-the-one-graph-you-need-to-see-before-watching/

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Federal crop insurance is the latest subject to surface in the blogosphere: ???US farmers eye record profits???

?????????????????? http://www.ft.com/intl/cms/s/0/f477ac96-f149-11e1-b7b9-00144feabdc0.html#axzz24s8RU7mI

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