Guest Post: Second Quarter Economic Update by Dorothy Jaworski
Jeff For Banks
JULY 21, 2011
'2011 started with so much economic promise. Jobs were being created, stock markets were rising. Interest rates were rising quickly too, in anticipation of strong economic growth. Then, oil and gas prices spiked over the unrest in Egypt and Libya. Gas prices reached $4.00 per gallon in May and everyone’s tipping point was reached. Enough! Consumers cut back spending and continue to pay down or shun debt.
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