SLATE's news summary summarized the stats well: >All the [major U.S. news]papers lead with a report showing the U.S. economy >shrank at a rate equivalent to 5.1 percent last fall—the worst contraction >since 1982. Businesses failed to cut production fast enough after the >financial crisis hit in October, so now they're stuck holding vast inventories >of unsold goods. (Truly vast: If you count unsold goods as GDP growth, the >rate of shrinkage was only 3.8 percent.) In order to correct, they've begun >aggressively closing factories and shedding workers.<
-- Jim Devine / "Segui il tuo corso, e lascia dir le genti." (Go your own way and let people talk.) -- Karl, paraphrasing Dante. _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
