Today Paul Krugman had a very depressing piece in the NY Times, The Third Depression and called for more government spending.
Krugman: 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.
WATCH KUDLOW, FORBES DEBUNK KRUGMAN:
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