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Second Stimulus Needed to Avoid Lost Decade: Krugman

Posted By admin On August 10, 2009 @ 3:59 am In Money Watch | Comments Disabled

CNBC [1]
Monday, August 10, 2009

The world economy needs a second stimulus if it is to avoid the fate of Japan in the 1990s when the country was stuck with years of sluggish growth, Nobel laureate and professor of economics Paul Krugman told CNBC Monday.

“The good news is that it does not look like the 2nd great depression. For a few months it did,” Krugman said.

All indicators now point to the fact that the plunge has stopped, as jobs in the US are lost at a smaller pace and manufacturing and services seem to be stabilizing worldwide, he added.

But the sources of future growth are hard to pinpoint as the financial crisis has left the world with excess capacity and the possibility of high unemployment everywhere, according to Krugman.

Full article here [1]

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URLs in this post:

[1] CNBC: http://www.cnbc.com/id/32354922

[2] Image: http://www.efoodsdirect.com/ammo-food.html?aid=14&adid=5

[3] Biden: New Stimulus Needed ‘Even if We’re Growing at 8%’ and Have ‘3% Unemployment Rate’: http://www.prisonplanet.com/biden-new-stimulus-needed-%e2%80%98even-if-we%e2%80%99re-growing-at-8%e2%80%99-and-have-%e2%80%983-unemployment-rate%e2%80%99.html

[4] U.S. Tourism’s ‘Lost Decade’ Cost Some 500,000 Jobs: http://www.prisonplanet.com/u-s-tourisms-lost-decade-cost-some-500000-jobs.html

[5] Measures Needed To Avoid Greater Government Failure: http://www.prisonplanet.com/measures-needed-to-avoid-greater-government-failure.html

[6] Analyst: Dow To 5,000, Lost Decade For Stocks: http://www.prisonplanet.com/analyst-dow-to-5000-lost-decade-for-stocks.html

[7] Bad policy decisions could push the US into a ‘lost decade’ and put the eurozone into recession, warns IMF: http://www.prisonplanet.com/bad-policy-decisions-could-push-the-us-into-a-lost-decade-and-put-the-eurozone-into-recession-warns-imf.html

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