Paul Krugman, winner of this year's Nobel Prize for Economics, is worried:
The fact is that recent economic numbers have been terrifying, not just in the United States but around the world. Manufacturing, in particular, is plunging everywhere. Banks aren’t lending; businesses and consumers aren’t spending. Let’s not mince words: This looks an awful lot like the beginning of a second Great Depression.
The rest of his column is here, and is well worth the short time it will take to read.
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