RJ and Makay

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Europe is on its way to a recession, and the resulting slowdown could impact the U.S. economy in the second half of 2012, according to Chris Wolfe, chief investment officer of Merrill Lynch Private Banking and Investment Group.  Germany recently reported that its economy shrank at the end of last year, and the European Union as a whole revised its economic growth figures for the third quarter to 0.1%, its slowest pace in over two years.