Monday, June 28, 2010

The Third Depression

In his latest (Sunday June 27th) Op-Ed piece, New York Times columnist Paul Krugman warns of a long global depression.

Krugman writes, "We are now, I fear, in the early stages of a third depression. It will probably look more like the Long Depression than the much more severe Great Depression. But the cost — to the world economy and, above all, to the millions of lives blighted by the absence of jobs — will nonetheless be immense."

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