To put it bluntly, the Bush Administration has been a disaster when it comes to telecommunications deregulation.

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Both are a recipe for disaster when it comes to any giveaway, particularly when working with social media outlets.

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For New Orleans' mayor Ray Nagin, the psyche of the people is the most critical issue when it comes to recovering from a disaster like Katrina, which devastated more than 90, 000 square miles of land and claimed about 1, 800 lives.

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Of course, a growth rate of 7% is hardly a disaster, and Rothman still counts himself firms in the optimist camp when it comes to investing in China, provided you back the right horse.

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But the danger is that central banks inflate another credit bubble, saving the economy from disaster in the short term but raising the stakes still further when the next crisis comes around.

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