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Friday, July 29, 2011

Recovery In Slow Motion

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There isn't much to say. The charts say it all. Mercifully the charts don't reflect today's grim economic news. In the second quarter the economy grew at an annual rate of 1.7 percent. If that wasn't bad enough the first quarter's GDP growth was revised downward to 0 .4%. Knowledgeable economist and even some Democratic economist are now worried that the economy will plunge back into recession. Remember a recession is defined as two consecutive quarters of no economic growth. Here's hoping you enjoyed last year's summer of recovery because it looks like we may see a long, cold, winter of discontent.

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