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Secular Stagnation

Biden is boasting on the economy (which has improved), but the latest stats show an American engine still stuck in first gear. For the last six quarters, the economy has grown at roughly 1.5%. That’s not a recession, but we should be growing twice that fast.  And take out government (which is fake growth), and GDP is at a snail’s pace of closer to a measly 1.25%.

The latest Atlanta Fed GDP Now report is worrisome. It indicates that the GDP for Q2 grew by 1.7%. Just seven weeks ago, they were predicting 4.2%. That’s quite a slowdown.

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