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  1. Re: Arrows Seen Pointing to a Recession [NY Times]

    “The American economy expanded more slowly than expected from April to June, the government reported Thursday, while numbers for the last three months of 2007 were revised downward to show a contraction — the first official slide backward since the last recession in 2001.”

    So we ARE in a recession. Since 2007 was revised downward and things are only getting worse, why should we think Q1 and Q2 ’08 will not be revised downward? Current GDP numbers can never be trusted.