• Plus, on Thursday, the Commerce Department will revise the measly 0.1% GDP growth figure for the first quarter, and economists surveyed by MarketWatch expect that to be cut to a 0.6% decline for the quarter. If that happens, it’ll be the first quarterly GDP decline since the first quarter of 2011, or as permabear Peter Schiff of Euro Pacific Capital likes to put it, “half way to a recession.”

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