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Tipsheet

The Economy Is Worse

That feels like a headline I've written before, and something tells me I'll be writing it again. Growth estimates were revised from 2.4% this quarter to 1.4%, which is attributed to an increase in imports. The U.S. needs an increase of 3% to keep up with population growth.
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Some economists expected the growth rate to be revised downward even further, and were actually somewhat relieved that it was this low. Others estimated the chances for a double-dip recession somewhere between one in three to one in two.

Al eyes are on Federal Reserve Chairman Ben Bernanke's speech in Jackson Hole, Wyoming, where he will address long-term economic policy. Hopefully he can explain how he's going to pull a miracle out of the United States treasury. 

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