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From The Wall Street Journal, Ross DeVol writes

by admin on September 13, 2010

“The naysayers are right that there’s a “new normal” economy, but it’s not that the potential long-term growth rate of the U.W. is substantially diminished, as they say.  It’s that this time, the fulfillment of pent-up demand will be subdued because consumers were living so far above their means during the bubble years.  Nevertheless, consumer durables and business investment in equipment will see some previously postponed purchases finally happen – if not this year, certainly by 2011 and 2012.”                          

 Article: The Case for Economic Optimism  (August 25, 2010)

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