[Marxism] From bad to worse

[brad bauerly <bbauerly@xxxxxxxxx>]

February 28, 2009
 In Revision, G.D.P. Shrank at 6.2% Rate at the End of 2008 By THE
ASSOCIATED PRESS

WASHINGTON (AP) — The government said Friday that the economy shrank at a
staggering 6.2 percent pace at the end of 2008, the worst showing in a
quarter-century. Consumers and businesses ratcheted back spending, plunging
the country deeper into recession.

The Commerce Department figure shows the economy sinking much faster than
the 3.8 percent annualized drop for the October-December quarter first
estimated by the government last month.

It also was a considerably weaker performance than the 5.4 percent
annualized decline economists expected.

-- 
Brad A. Bauerly
PhD Candidate,
Political Science
York University
Toronto, Canada
647-345-2072
bauerly@xxxxxxxx
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