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30 Oct, 2009 04:15

Celente: US GDP growth is only a temporary uplift

Director of the Trends Research Institute Gerald Celente believes the unexpected annual US GDP growth of 3.5 percent over the last three months isn't proof of a long-term recovery.

“The GDP rise is a result of the trillions of dollars – between the Bush administration’s top program and President Obama’s $787 billion stimulus package – temporarily juicing the economy,” he said. “They are printing paper money backed by nothing.”