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Thursday, July 31, 2008

Will This Nightmare Never End?

The worst economy since the Great Depression continues to slide off the rails into a pit of despair and destruction that only hope and change can, er, change.
The U.S. economy doubled its speed in the spring, driven by higher exports, falling imports, and rising spending by consumers given tax rebates meant to neutralize the housing slump...Gross domestic product rose at a seasonally adjusted 1.9% annual rate April through June...Businesses drew down inventories sharply, putting a big drag on GDP -- yet suggesting smaller cuts in production down the road.
That does it for me. I'm heading to Canada where the Dream Lives On. With inventories drawn down, it can only mean one thing - higher levels of production and higher levels of employment will be required in the future.

We're screwed, people. Get out while you can.

Update: An accelerating economy will allow the Fed to raise interest rates, thereby significantly boosting the dollar. That can't be good, can it?

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