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The Weak Recovery and the Coming Deep RecessionMarch 15th, 2006To quote Yogi Berra, “It’s tough to make predictions, especially about the future.” Many (including myself) expected that the bursting of the stock market and Internet bubbles in 2001 would cause a deep recession owing to large excesses of borrowing and spending by both the household and corporate sectors. Now we know that the recession of 2001 was fairly mild and of short duration, though the economic recovery has also been the weakest since World War II. Read the rest of this entry » --
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