Depression ahoy !

I found this reference thanks to Paul Krugman's blog. Quite interesting I think : http://www.voxeu.org/index.php?q=node/3421.

Climbing out of the trough ? I don't think so.
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For those of you who have a short memory, Krugman is a Noble prize laureate for economics, which by the way does not mean he is right : look at the list of winners and you might see what I mean.