Paul Krugman: How Bad Things Are

by Guest Wed May 09, 2012 8:50 am

I think as those green shoots begin to appear in different markets and as some confidence begins to come back that will begin the positive dynamic that brings our economy back.

Do you see green shoots?

I do. I do see green shoots.

--Ben Bernanke, chairman of the Federal Reserve, interviewed by 60 Minutes, March 15, 2009

And the pain went on and on. I'm writing these words almost three years after Bernanke thought he saw those green shoots, three and a half years after Lehman fell, more than four years after the start of the Great Recession. The citizens of the world's most advanced nations, nations rich in resources, talent, and knowledge--all the ingredients for prosperity and a decent standard of living for all--remain in a state of intense pain.

http://www.huffingtonpost.com/paul-krugman/how-bad-things-are_b_1498070.html?ref=unemployment

by TR11005 Wed May 09, 2012 12:18 pm

A must read by Paul Krugman is his new book, "End this Depression Now!"

I am on Chapter 5, now. That was excerted from his book. Austerity is not the answer, we need to spend our way out of this Depression.

by elvis44102 Wed May 09, 2012 8:06 pm

i think Krugman says that what is known to work was learned from the great depression of the 1930's as well as several smaller slumps since
he say even Nixon was a keynsian economist politically....
It is only the republican party stubbornly blocking everything that needs to be done period.....