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Friday, July 03, 2009

Funny growth

All newspapers and CNBC types are quoting "economists" who say that we end recession in the second half of the year and start growing again. Of course, they are talking about the GDP which is a meaningless number for growth. The real question is - when will the jobs, wages, work conditions recover? GDP can be fudged by goofy money tricks being conducted right now-- there is no formal definition of a recession anyway. If the demand does not grow, there is no growth.

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