Friday, August 01, 2008

Economy is growing - bad news for the bears

The US economy is not in a recession. It grew in both the first and second quarters of 2008. The perma-bears can't accept this good news, so they color it to make it bad news. "The 1.9 per cent growth was smaller than expected." Financial News - Yahoo! Finance:
But the gross domestic product still increased at a 1.9 percent annual rate, up from 0.9 percent in the first quarter but less than the 2.4 percent economists were looking for.

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