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PrintIs the world headed for the third great depression?
New York Times columnist Paul Krugman argues it is, but the world's largest economies just committed their governments to massive deficit reductions.
POWELL RIVER, B.C.—Is the world, including Canada, headed for the third great depression, as New York Times columnist Paul Krugman argues? Watching the results of the G8/G20 meetings was like hearing news that a giant comet is heading for earth and we are just waiting for impact. Those meetings of the world's largest and/or growing economies committed governments to massive deficit reduction in spite of the real concern that we are facing a the possibility of a so-called "double-dip" recession. That possibility is now a certainty.
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Is the world headed for the third great depression?
New York Times columnist Paul Krugman argues it is, but the world's largest economies just committed their governments to massive deficit reductions.
POWELL RIVER, B.C.—Is the world, including Canada, headed for the third great depression, as New York Times columnist Paul Krugman argues? Watching the results of the G8/G20 meetings was like hearing news that a giant comet is heading for earth and we are just waiting for impact. Those meetings of the world's largest and/or growing economies committed governments to massive deficit reduction in spite of the real concern that we are facing a the possibility of a so-called "double-dip" recession. That possibility is now a certainty.
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