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DO YOU TRULY BELIEVE GDP IS GROWING?
It curls my hair, and I don't have any hair to curl, when the press spins economic news. Yes, it is true that the GDP reported a growth of 1.7% for the 2nd quarter of 2010 which is in fact on the positive side of "centerline"; however THIS GRAPH, obtain from the U.S. Department of Commerce Bureau of Economic Analysis http://www.bea.gov/ clearly demonstrates that our the US economy, as defined by GDP, is trending down.  You make up your own mind about where you think the next trend indicator will land for the 3rd & 4th quarters of 2010.
It is our belief that not until three major pressures are taken out of the equation, will the US economy truly begin to make a meaningful recovery. Those three major pressures are, job creations, meaningful foreclosure prevention and finally a mechanism to repair and address the extraordinary negative equity in residential real estate. According to PR News Wire http://www.prnewswire.com/ SEATTLE, Aug. 9, real estate values continue to fall, reporting that nationally, home owners are suffering with an average of 21% value decline, since the beginning of the economic crisis we are digging out of. The hardest hit areas report more dramatic negative ... more

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