mauldin august 2
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8/21/2019 Mauldin August 2
1/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
2/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
3/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
4/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
5/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
6/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
7/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
8/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
9/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
10/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
11/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".; &'="-4# K&1",*'
Thoughts From the Frontlineis a free weekly economic e-letter by best-selling author and renowned financial expert,
John Mauldin. You can learn more and get your free subscription by visiting http://www.mauldineconomics.com.
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8/21/2019 Mauldin August 2
12/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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8/21/2019 Mauldin August 2
13/13
!"#$%"&' )*#+ &", -*#.&/0.,"# $ %&'' ('')*+ ',-.-/",# '0*'11'& 2+ 2'#10#'**".3 $415-& $.6 &'.-(.'6 %".$.,"$*
'78'&1 9-5. :$4*6".;
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