Despite the pessimistic taking hold, a growing roster of high-profile money managers are balking at at this theme, arguing that it’s wrong-headed and self-defeating. Plus, good money can still be made in the markets.
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The final numbers on U.S. GDP growth for the second quarter are in, and they’re a bit better than the previous revision’s reading. GDP inched 1.7% higher in the second quarter, up from the earlier 1.6% estimate.
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The capital markets have recovered nicely from the depths of the financial crisis’s despair, though skittishness remains. What the economy sorely needs now is the next big thing — perhaps a new technology that boosts business …
Forget the gloomy predictions: According to Richard Berner of Morgan Stanley, U.S. consumers are a year ahead of schedule in repairing their household balance sheets, giving them the ability to start spending again soon. And t…