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KUALA LUMPUR, Malaysia (AP) -- Aggressive stimulus spending by governments helped the world avoid a second Great Depression but full economic recovery will take two years or more, Nobel Prize-winning economist Paul Krugman said Monday. (http://finance.yahoo.com/news/Krugman-says-world-avoided-apf-3573814253.html?x=0&sec=topStories&pos=main&asset= &ccode= - broken link)
he stopped the freefall but i dont think recovery is on the horizon.
That was the entire point, the angry GOP keep ignoring.
As far as recovery, the article pretty much says the same thing, Krugman calling two years or even more. Which sounds about right to me, given the complexity and scale of this mess.
Dubya could not have anything worse to this nation economically than he actually did. The USA may not recover economically from this debacle in my lifetime (for another 2 or 3 decades), if ever.
krugman has been wrong so many times i don't even know why people still use him as a source.
Ben Bernanke
"I expect there will be some failures” of smaller banks. “Among the largest banks, the capital ratios remain good and I don't anticipate any serious problems of that sort among the large, internationally active banks that make up a very substantial part of our banking system."
—Federal Reserve Chairman Ben Bernanke in February 2008.
paul krugman
Federal Reserve Chairman Ben S. Bernanke “has done a really good job” to contain the financial and economic crisis.
krugman is now saying that we might need a second stimulus package, presumably since the first stimulus package worked out so well.......
One thing for certain about Krankman... he is impressed with himself.
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