Sure, last year was the first pre-election year stock market loss since the Great Depression. And admittedly, this week was the worst opening week of any year … EVER.
But that’s not the big news.
The big news is that a prominent economist – University of California economics prof Brad DeLong – wrote today:
Economist Joe Stiglitz warned back in 2010 that the world risked sliding into a “Great Malaise.” This week, he followed up on that grim prediction, saying, “We didn’t do what was needed, and we have ended up precisely where I feared we would.”
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