Sunday, August 10, 2008

Creamy Goodness

Got that? German growth at a 1.5% annual rate is considered blazing. Any
American rate below 2.75% is sluggish. Any rate below 1% is a recession.

I'm glad to know the new definitions. I wonder what the financial arbiters
will be calling the Italian contraction? I think the term most common will be
"minor correction". Why? Because Europe is creamy goodness and America is evil
incarnate where the moguls of finance are bleeding the poor for their own
personal gain where as the Europeans have just made a few minor mistakes.

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