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Recovery? How About ‘Relapse’?

August 18, 2010
Gerald Celente
8/18/2010

Three weeks later [after early June 2010] the celebrated property rebound, along with the stock market, ran out of bounce. After the hefty government tax credits that had propped up sales expired in April, May purchases of new homes fell 33 percent to a record low, the fewest sales since 1963. Note that the US population stood at 190 million in 1963, compared to 310 million in 2010 … a 60 percent increase.

Rebound? In the first quarter of 2010, private business paychecks shrank to new lows, representing their smallest share of personal income in US history, while government-provided benefits (social security, unemployment, food stamps, etc.) rose to record highs.

And now… the rest of the story. …..

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