The Phaserl


Paul Krugman on What’s Really Killing the World Economy

from Alternet:

Turns out forgiveness can be a virtue when it comes to easing hard economic times, as well as other areas of life.

The world economy is still stumbling, Paul Krugman writes in his column today. Recovery is stalling. “If this story sounds familiar, it should; it has played out repeatedly since 2008,” Krugman writes, somewhat depressingly. “As in previous episodes, the worst news is coming from Europe, but this time there is also a clear slowdown in emerging markets — and there are even warning signs in the United States, despite pretty good job growth at the moment.”

Then he sets out to answer this question of why things areso bad. After all, we are many years past the housing bust and banking crisis, i.e., the causes of the Great Recession.

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