Monday, March 30, 2009
What a depression might look like
From the WSJ via Yahoo.What would a depression be like today? "There is no consensus definition for 'depression.' Harvard University economist Robert Barro defines it as a decline in per-person economic output or consumption of more than 10%, and puts the odds of a depression at about 20%.This 20% number is much higher than some other economists are predicting. For instance:"Paul Kasriel of
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