The economy is tanking. The revised estimate for second quarter growth was an anemic 1.6% down from a number liberals and Obama was bragging about all during this "recovery summer:" 2.4%.Compare that to the almost as anemic 3.7% growth experienced in Q1 and you have the spectacle of by far the worst growth rate coming out of a recession since the end of World War II.Mort Zuckerman: What was thought to be normal in the context of post-World War II recoveries? One assumption is that four quarters into the recovery, real gross domestic product would expand at an annual rate of over 6 percent. Instead we are coming out of the current recession at a growth rate of 2.4 percent. In other words, more than two years after the beginning of every post-war recession, we would now usually be at a new peak of economic activity. In this recession, economic activity in real terms is still 1 percent below the pre-recession peak.We did enjoy a GDP boost from a buildup of inventories...(Read Full Post)