Had bad is this recession?


	Had bad is this recession?

deb2012

4-8-2008 7:05 AM

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tags:

economy

deb2012 says:

commentary on deflation, recession, depression by economists

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/5d8aa620-9773-4aba-96d5-07e2d2d06c7f/F1460DAB-1084-4A77-A8DB-4B14A85C8A1A/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://globaleconomicanalysis.blogspot.com/2008/04/case-for-l-shaped-recession.html" href="http://globaleconomicanalysis.blogspot.com/2008/04/case-for-l-shaped-recession.html" style="font-size: 11px;">globaleconomicanalysis.blogspot.com</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globaleconomicanalysis.blogspot.com/2008/04/case-for-l-shaped-recession.html"><BLOCKQUOTE>So the estimate of $1 trillion of losses that I first presented in February has now become conventional wisdom as George Magnus, Martin Wolf, Goldman Sachs and now Charles Morris are all coming up with a similar estimate.<BR /></BLOCKQUOTE></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globaleconomicanalysis.blogspot.com/2008/04/case-for-l-shaped-recession.html">From this evening's vantage point, recent extraordinary government measures to 
“back” U.S. finance appear likely to delay the adjustment process – what I will 
be referring to as a “depression.” This reprieve, however, comes with a cost. It 
will ensure significantly greater damage to the core of our monetary system, as 
well as requiring a more onerous real economy “liquidation” with the inevitable 
onset of the more serious phase of the unfolding crisis.</blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://globaleconomicanalysis.blogspot.com/2008/04/case-for-l-shaped-recession.html">What's not debatable is what will happen if $1 trillion is written off. And that 
is the other "D" word: "deflation".</blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/F1460DAB-1084-4A77-A8DB-4B14A85C8A1A/blog/" title="blog or email this clip"><img src="http://content7.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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