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The U.S. Recession Will Be Painful, But it Could’ve Been Lots Worse
The U.S. economy is entering a recession. With each day that passes and each indicator we see, that eventuality becomes more and more clear.
Even so, we can take some real comfort in knowing that we’re likely going to avoid the “bottomless pit” of a Great Depression II. A substantial recession with accompanying inflation – roughly along the lines of the downturns of 1974 and 1980-82 – seems the most likely scenario we face.
The last two U.S. recessions – the 1990-91 downturn touched off by Saddam Hussein’s invasion of Kuwait and the subsequent recession in 2001 – were both short and…
22Oct2008 | Money Morning | Comments Off | Continued
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