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From Solid Recovery to Modest Recovery to No Recovery in 24 Hours

glenn183 Wrote: Feb 01, 2013 12:54 AM
"I don't think anything has fundamentally changed in the economy," said Mark Zandi, chief economist at Moody's Analytics. I agree with Zandi. It's still rotten.

WASHINGTON - When millions of voters went to the polls in November to narrowly re-elect Barack Obama, the economy was rapidly shrinking toward recessionary levels.

In the last three months of 2012, the gross domestic product (GDP) -- the measurement of everything America produces -- fell to an annualized rate of 0.1 percent, the Commerce Department reported Wednesday. This means the economy grew at a weak 2.2 percent rate for the entire year, little better than its feeble 1.8 percent growth rate the year before.

The Wall Street Journal, never one to mince words, said "U.S. economic momentum screeched to a...