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What today’s economic news tells us about the ‘recovery’

Wal-mart misses on sales and earnings

Listening to the President, his administration, some in Congress and several news reports, many would say the economy is recovering slowly but gaining traction. Seeing the economic data released today may reveal a somewhat more real reality. The unemployment figures released this morning seem promising, but only in a vacuum. Claims dropped 24,000 to a seasonally-adjusted 297,000 for May. What the ...

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