"And who will pay the price for this triumph of orthodoxy? The answer is, tens of millions of unemployed workers, many of whom will go jobless for years, and some of whom will never work again. – The chilling conclusion to Paul Krugman’s most recent column in the New York Times, outlining what he believes heralds the onset of the world’s Third Depression.
Paul Krugman the renowned journalist and Nobel Prize winner in economics has outlined a rather bleak picture for the world’s immediate economic future finding cause to worry about the direction of much of the world’s governments as they race towards deficit reduction, while still in the teeth of a rather nasty recession.
(from the blog a town called podunk, click on the link below to see the entire article atowncalledpodunk.blogspot.com/2 … nobel.html )