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looking at the gdp of most countries over the last couple of years we
have been in a reccesion/depression the whole time if you take
the terminology as is.
Forcasts for 2009 show more of the same .. but the slow down in the asia pacific is much more subtle than europe and the US.. so maybe there is some truth in the politicians yarping that our ecconomy is strong and robust enough to sneak through this with only a severe case of indigestion for a year or two.
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