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Article by dailystock_admin    (02-20-09 07:42 PM)

What do you think of this article?

http://www.iht.com/bin/printfriendly.php?id=203307...

Paul Krugman: What will stop the pain?
By Paul Krugman
Friday, February 20, 2009

  • Quote:
The closest 19th-century parallel I can find to the current slump is the recession that followed the Panic of 1873. That recession did eventually end without any government intervention, but it lasted more than five years, and another prolonged recession followed just three years later.

You can see, then, why some Fed officials are so pessimistic.




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Username Comments
munger 
newbie
Posts: 35

Loc: Santa Barbara, CA
Reg: 02-16-09

02-20-09 07:46 PM - Post#2168    
    In response to dailystock_admin

It is a typical Paul Krugman article. I am more of the Austrian Economic mind.

I think this is worst than Panic of 1873 because the U.S. consumer has never been so leveraged. We will really need international cooperation to get out of this mess. It will take time, because that is the nature of politics.

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