by Mark Thoma, University of Oregon (Department of Economics)

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Paul Krugman: A Slow-Mo Meltdown

Posted on August 04, 2008

An update on the state of the economy, a call for aggressive fiscal stimulus to sustain employment while the markets work off the aftereffects of the housing bubble, and the question of why the lousy economy hasn t yet had more impact on the campaign :A Slow-Mo Meltdown, by Paul Krugman, Commentary, NY Times: A year ago, as the outlines of the current financial crisis were just becoming clear, I suggested that this crisis ... wouldn t end quickly. It hasn t. The good news, I guess, is that we ve been experiencing a sort of slow-motion meltdown, lacking in dramatic Black Fridays and ...

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bernanke , economic policy , economy , fed , federal reserve , housing bubble , interest rates , mortgage rates , tax , the fed