That Stagnating Feeling

rencontre aire de repos autoroute a1 The financial markets sloughed off the sharp downward revision in real gross domestic product (GDP) for the 1st quarter. The news — released last Wednesday, June 25th — that the economy contracted by almost three percent annualized was greeted a collective yawn. Media pundits and talking heads blamed the weather.  How convenient:  the weather always …

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