What Does the Demise of Google Reader Mean For Bloggers?

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A few days ago the news came out that Google will be pulling the plug on its beloved Google Reader service on July 1st.  Google Reader is a free service that many bloggers use to keep up with their favorite blogs.  I also use it to subscribe to numerous vanity searches as well as keyword phrases, etc.

My first thought was that man, this is going to suck, how will I find a decent alternative so I can read and stay up to date on my favorite blogs?

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