Thursday, January 15, 2009

Recession or Depression?

Just read an interesting comment from Paul Kedrosky:

Depression/recession chatter. We're doing that denial thing about a depression the same way we did about about a recession. A credit collapse, trade spiral, disappeared confidence, failing banks, fast-rising unemployment, and loss of confidence worldwide: We are in a depression of some to-be-determined eventual severity. Stop talking and move on.

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