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Archive for September 2nd, 2006
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September 2, 2006Economic growth my ass
September 2, 2006It is much less meaningful when inflation helps cause it. Iran, for example, will have 5 percent growth this year, but inflation in July alone was 10.4 percent.
Granted, the two don’t numerically cancel each other out, but when prices nearly quadruple in a year, 5 percent economic growth is not nearly as big of a deal.
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