Krugman Says Recession Should End This Summer

It's just such a pathetic statement that I want to have it archived on my blog so that I can dig it a couple years from now while the US would still be in the middle of the Greater Depression:
June 8 (Bloomberg) -- The U.S. economy probably will emerge from the recession by September, Nobel Prize-winning economist Paul Krugman said.

“I would not be surprised if the official end of the U.S. recession ends up being, in retrospect, dated sometime this summer,” he said in a lecture today at the London School of Economics. “Things seem to be getting worse more slowly. There’s some reason to think that we’re stabilizing.” [...]

Even with a recovery, “almost surely unemployment will keep rising for a long time and there’s a lot of reason to think that the world economy is going to stay depressed for an extended period,” Krugman said.
I am still trying to make sense of how unemployement can be rising for a long time but the recession being over. I am a bit slow...

No comments: