- Paul Krugman, blog post entitled "train headed downhill"
Thursday, October 16, 2008
". . . consumer spending is now plunging at serious-recession rates. . . . even if the rescue now in train succeeds in unfreezing credit markets, the real economy has immense downward momentum. In addition to financial rescues, we need major stimulus programs. "
Posted by Jotman on Thursday, October 16, 2008