NBC Interview with Paul Krugman on the Economy

Dear Friends,

Do spend some time to listen to NBC's Interview with Paul Krugman, one of US' top economist from MIT.

Paul Krugman's views -

"This (job market) is kind of nightmarish. This is definitely set to be the worst slump in the last 25 years ... could be the worst since the Great Depression ... the wheels are completely coming off."

"This recession is going to be deep and long".

"Unemployment will go to 8% maybe. ..... Probabilities are now higher that we could be seeing double digit"

"We've taken the medicine (economic stimulus) but it hasn't worked. So now it depends on whether the Government can come up with something new."

"Even if the economy were to recover, I'm not sure people will be likely to be spending as they were. .... It's going to be an economy that's going to be much more cautious."

The good old days are OVER, at least for the foreseeable future. So, if any of you are thinking optimistically that the US and world economy is going to pick up any time soon, think again.

Best wishes,

Ooi