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When Recessions End

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Worst Recession Since End of World War II

Economic Output Peaked in 2Q 2008


It has Dropped by 3.9% Since
That is Steepest Decline Since 1947

U.S. GDP Dropped at 1% Annual Rate in 2Q 2009


That is Huge Improvement from 6.4% Drop in 1Q 2009
History Indicates Imminent End to Recession

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Change in GDP from Peak During Each Cycle

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Leading Indicators Signaling the Recession’s End

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S&P 500 on a Tear Again – 03/09/09 to 07/31/09

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Goodbye Recession, Hello Bull Market!

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Sources: Commerce Department, New York Times, Wall Street Journal

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