Forbes: Laissez-Faire Capitalism Has Failed

Saturday, February 21, 2009

It is now clear that this is the worst financial crisis since the Great Depression and the worst economic crisis in the last 60 years. While we are already in a severe and protracted U-shaped recession (the deluded hope of a short and shallow V-shaped contraction has evaporated), there is now a rising risk that this crisis will turn into an uglier, multiyear, L-shaped, Japanese-style stag-deflation (a deadly combination of stagnation, recession and deflation).

This entry was posted on Saturday, February 21st, 2009 at 6:27 pm and is filed under Financial crisis, Sex & Metropolis. You can follow any responses to this entry through the RSS 2.0 feed. | 597 views | Trackback | Print this page |

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