By Jennifer Leigh Parker, Special to CNBC.com
NEW YORK ( CNBC) -- The new normal is looking a little old hat. The catchy and no doubt memorable phrase coined by Pimco boss Bill Gross amid the financial crisis is rapidly disappearing from Wall Street's lexicon -- and probably Davos' as well. And that's probably a good thing. With the Dow having almost doubled from its crisis low of 6,500 and many economists calling for solid U.S. GDP growth in 2011, the new normal -- "half-size economic growth induced by deleveraging, re-regulation, and de-globalization" -- has lost a lot of its usefulness.
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