This from ABC News on March 2, 2010 in an article titled, “Experts Warn Another Financial Crises on the Way” (emphasis mine):
Even as many Americans still struggle to recover from the country’s worst economic downturn since the Great Depression, another crisis – one that will be even worse than the current one – is looming, according to a new report from a group of leading economists, financiers, and former federal regulators.
……. The study says that “In 2008-09, we came remarkably close to another Great Depression. Next time we may not be so ‘lucky.’ The threat of the doomsday cycle remains strong and growing,” they say. “What will happen when the next shock hits? We may be nearing the stage where the answer will be – just as it was in the Great Depression – a calamitous global collapse.” Read more »
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This from Fox News yesterday:
The White House wants a do-over for February’s yet-to-be released jobs numbers, arguing that the blizzards that hammered the country last month also dented the economic recovery.
Though the February unemployment figures are not out yet, White House economic adviser Larry Summers is already lowering expectations and claiming that winter weather is to blame for any posted decline. Read more »
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All this talk about a ‘jobless recovery’ really has me peeved. Truth is, when an economy that is as dependent on consumer spending as the US economy is not creating jobs, you have to wonder if there is really an economic recovery underway. I’d have to argue ‘no’. Ben Bernanke testified before congress over the last couple of days and has stated that although the economy is recovering, that the recovery may be one that is ‘jobless’.
This from Bloomberg on February 24, 2010:
Federal Reserve Chairman Ben S. Bernanke, in two days of congressional testimony beginning today, will probably face questions on how he plans to end the worst jobs slump since the Great Depression. Read more »
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