Monday, December 15, 2008

Nobel Prize winning economist Paul Krugman on the future of the US economy: "If nothing happens, we'd have 11 percent or more unemployment by the end of 2009. Even with stimulus, 10 percent unemployment is possible. And it could well go on for years -- even the 2001 recession generated a 30-month employment slump. We need a huge stimulus in the United States -- intervention in the mortgage market to lower rates, plus 4 percent or more of gross domestic product in recovery measures."[1]

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