The Federal Reserve says that the economy may not recover for 5 or 6 years

The American workforce has shrunk by one million over the past two months as discouraged jobless give up the hunt. Retail sales have fallen for the past two months. New homes sales crashed to 300,000 in May 2010 after tax credits ran out, the lowest since records began in 1963. Mortgage applications have fallen by 42% to a 13-year low since April 2010.

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