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by Joel Naroff
“It looks as if the question is ‘no longer
will we go into a recession’, but rather ‘how
long and deep will it be?’”
For months, there has been the hope that the
economy could skirt a recession. Even while the
data deteriorated, it was believed that job and
income gains would allow consumers to continue
to hold up their end of the bargain. But then we
got the killer: a second month of job losses.
Although a recession is not a certainty, the
white flag has started going up the pole.
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