Someone finally put the notion out where everybody can hear it: The current economic malaise might not be the bust part of the normal boom-and-bust economic cycle, but something more profound and long-lasting. The recovery, in that case, will be measured not in quarters but in years.
Because it was Alan Greenspan doing the talking, of course, a bit of translation is in order. Here's what the Federal Reserve chairman told the Senate Banking Committee earlier this month: Once the uncertainty caused by impending war fades, we'll know "if we are dealing with a business sector and an economy poised to grow more rapidly -- our more probable expectation -- or one that is still laboring under persisting strains and imbalances that have been misid
|
This is only the first few lines of this paper. If you would like to view the entire paper you need to register here.
|
Get Instant Access to 100,000 Essays!!
|
|
