73. Krugman sees no recovery.
April 27, 2009 § Leave a comment
I think he is channeling common sense.
Krugman spoke about this in Cincinnati:
“I’m in the camp that really worries about the L-shaped recession. We level off but we don’t get the recovery. We hope it isn’t, but it has all the markings of it. This looks like the kind of slump that has all the markings of where normal recovery forces are very, very weak.
It’s hard to see where recovery comes from.”
via Calculated Risk.