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How Bad Things Are
- The following excerpt from Paul Krugman’s book “End This Depression Now!” was published with permission from W.W. Norton & Co.
- Paul Krugman: Austerity Is So Wrong!
Paul Krugman, Truthdig
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W.W. Norton & Company, Inc.
(May 14, 2012) 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
In March 2009 Ben Bernanke, normally neither the most cheerful nor the most poetic of men, waxed optimistic about the economic prospect. After the fall of Lehman Brothers six months earlier, America had entered a terrifying economic nosedive. But appearing on the TV show 60 Minutes, the Fed chairman declared that spring was at hand.
Related:
Paul Krugman: Austerity Is So Wrong! Paul Krugman, Daily Beast
- In a new book, "End This Depression Now!", Nobel Prize–winning economist Paul Krugman says the current economic problems can be fixed both more easily and more quickly than anyone imagines. But politicians’ desire to slash spending is deeply destructive, and he details why austerity is so appealing even to Very Serious People—and why it’s such a bad idea.
- Scott Walker's Austerity Agenda Yields 'Worst Job Losses in US'
- Our Best Minds Are Failing Us
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