Economy grinds to near halt

[Celtic Rose]

NEW YORK (CNNMoney.com) -- The U.S. economy sputtered to a near stop in the second quarter, according to new estimates from the government released Friday, although the slowdown wasn't as bad as many had feared.

The nation's gross domestic product, the broadest measure on the amount of spending by consumers, businesses and government, was revised sharply lower to an annual growth rate of 1.6% in the three months ending in June. The initial reading had been for a 2.4% growth rate in the period.

The report fed into growing fears that the nation could be at risk of a new economic downturn known as a double-dip recession. While the economy is still growing, growth of less than 2% is considered too weak to prompt businesses to start hiring again.


More at the Link:  http://money.cnn.com/2010/08/27/news/economy/gdp/index.htm

[DumbAss Tanker]

To Hades with that, are you rooting for the Greens or the Whites in today's chariot races at the Circus Maximus?  Oh, here, have some fresh unemployment compensation bread, too.

[true_blood]

I mean, these people running the Country aren't that f'en dumb are they?!? They know exactly what they are doing. Collapse the system to put in a new one.

[Gumby]

And unemployment is through the roof. They just subtract millions of unemployed Americans when they fall off the unemployment roles from their unemployment statistics. But consider this article:

http://wevanishingamericans.blogspot.com/2010/05/usa-must-change-how-we-do-business.html

[Eupher]

And unemployment is through the roof. They just subtract millions of unemployed Americans when they fall off the unemployment roles from their unemployment statistics. But consider this article:

http://wevanishingamericans.blogspot.com/2010/05/usa-must-change-how-we-do-business.html

A long, but insightful and interesting read. Thanks for posting that link, Gumby.