BEA: Reports of Economic Recovery Were Greatly Exaggerated

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The evidence is beginning to pile that this “recovery” has no clothes – BEA reports: Included in the BEA’s first (“Advance”) estimate of second quarter 2011 GDP were significant downward revisions to previously published data, some of it dating back to 2003. Astonishingly, the BEA even substantially cut their annualized GDP growth rate for the […]

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