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Thursday, February 07, 2008

US recession could be worst in 20 years

The chances of the United States avoiding a recession appear to be growing dimmer by the day, and any contraction in the economy will likely last longer and be more severe than other downturns in the past 20 years.

In a separate article, billionaire investor George Soros commented that US is threatened with recession to be worst for 50 years - more serious than any other financial crisis since the end of World War II.

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