nytimes.com - 1/5/2009
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“If we don’t act swiftly and boldly,” declared President-elect Barack Obama in his latest weekly address, “we could see a much deeper economic downturn that could lead to double-digit unemployment.” If you ask me, he was understating the case. The fact is that recent economic numbers have been ...
blogs.ft.com - 12/30/2008
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blogs.ft.com —
By Roger E.A Farmer The US recession that
began in December 2007 resulted in 403,000 lost jobs
in September, 320,000 in October and 533,000 jobs in November. Projections for 2009 are ominous.
(more)
How to prevent the Great Depression of 2009
krugman.blogs.nytimes.com - 1/2/2009
fistfulofeuros.net - 1/3/2009
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fistfulofeuros.net —
And lands in China. Well China isn’t quite
in the Great Depression yet, but manufacturing activity -
which accounts for 43% of the Chinese economy - is already in a technical recession, and phew, it wasn’t very long ago that the ...
(more)
The Second Great Depression Wends Its Way Forward in ...
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Krugman: The Great Depression Redux
Angry Bear —
Krugman correctly lays out the problem: We are facing the second Great Depression. Agreed again that simple monetary policy is not enough. Agreed also that a stimulus package is certainly needed; otherwise the domino effect of shrinking businesses and increasing unemployment, together with tight credit and deflation will prove disastrous. ...
Further reading
FT Alphaville —
... believe this rally will lose steam as massive deficit spending begins to shine a light on the greatest risk facing the US: debasement of the currency”. - Arrp, Zirp, Tarp etc… what works and what doesn’t in the land of Financial Acronymia - The myth of the riskometer - Madonna vs. Springsteen?: How economists judge popularity… - The Madoff family’s last remaining asset - Ten mind-boggling statistics from the UK credit crunch - Krugman’s nightmare scenario - … But if government is the answer to preventing recessions, why are we ...
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Paul Krugman: Fighting Off Depression
economistsview.typepad.com 1/5/2009 — Will Congress do what's needed to stop the economy's downward spiral? (Related:
Obama
Plan Includes $300 Billion in Tax Cuts "to win over Congressional skeptics
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N/A
foreignpolicy.com 3/30/2009 — I n the Great Depression, as in the current economic crisis, the downturn was particularly severe because of a lack of leadership in the international order. The dominant financial power of the 19th century, Britain, was financially exhausted by the ...
The Not-So-Great Depression
online.barrons.com 2/28/2009 — THE GREAT DEPRESSION. THOSE CHILLING WORDS HAVE BECOME something of a staple of economic utterance these days, enjoying promiscuous use by both those dour souls who cry out that the end of the world is nigh and those determinedly smiley types eager to ...
"A Second Great Depression is Still Possible"
economistsview.typepad.com 10/14/2009 — Let's hope Thomas Palley, who says "a second Great Depression remains a real
possibility," is wrong. My best guess is that he is (though I don't expect a quick recovery, particularly for labor). But I suppose I " should
never ...
Not the Great Depression 2.0
dmarron.com 5/29/2009 — UPDATE: Please see two related posts: “The Long U” and “A Plane Crash Averted?”
The Great Depression was an unspeakably bad time for the U.S. economy. I know that sounds obvious, but it seems necessary to say given all ...
Depression analogies
krugman.blogs.nytimes.com 11/23/2008 — Zero bound worries
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Instead of workers with 5 o'clock shadows asking, "Brother, can you spare a dime?" we have clean-shaven financial-services executives asking congressmen if they ...
My Senior Seminar on the Great Depression
austrianeconomists.typepad.com 1/20/2009 — In what was either blind luck or remarkable foresight, over a year ago, I agreed to teach a senior seminar this spring, and I decided to do it on the Great Depression. With the events of the last few months, that has turned out to be a very timely ...
World Economy Falling Faster Than in 1929-1930
nakedcapitalism.com 4/7/2009 — Barry Eichengreen, an expert on the Great Depression, and Kevin O'Rourke, take issue with the notion that the current downturn is less severe than the Great Depression. While the slump in the US is not as bad, that mis-states the global picture. ...
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