Paul Krugman: Economy Was Never 'On The Road To Recovery'

He and many others, me included, saw it coming years ago.  Each year the warning went unheeded, each year there were more tax cuts, more spending, more borrowing, more war on a credit card, the odds increased exponentia­lly until we are where we are now -- This is a DEPRESSION­.  

And it's going to get much, much worse.

Why? 

Why is this Depression going to be even worse than the last Great Depression­?

Because we really can't grow our way out of it as we did the last one -- WE HAVE LIMITED RESOURCES.  Limited water, limited food, limited oil, limited forests, etc.  What we don't have is limited numbers of people.  

We on the left told you so, and I don't think that any of us take any delight at all in saying it.  

On a tangential subject, I think you might get some value out of reading Malcolm Gladwell's book, "Blink".
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