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Yes, there are signs in the U.S economy- the world's largest GNP at 12.5 $ trillion dollars may be slowing. Bloomberg notes, "the U.S. consumer has been on a 15 year run, the longest growth streak on record, through the wreckage of bursting tech bubbles, terrorist attacks and soaring oil prices. Now the world biggest spender is showing signs of fatigue."
Many economists feel a slow down in consumer spending, a widening housing slump, and a sluggish business investment scenario coupled with rising consumer debt may signal the U.S. economy may be heading into the forbidden waters of a recession. Former Federal Reserve chairman, Alan Greenspan has been sounding the alarm for the last 5 months that a U.S. recession remains a slight probability by year's end. read more |
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