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Are we in a Depression?

December 7, 2011
RealEcon TV

The mass media, including the financial media, hates to use the “D” word.

Here’s the party line on that:

“Depressions don’t happen any more. We only have recessions and recovery is just right around the corner.”

The other myth: The government can “help” countries stay out of a Depression.

The reality is 180 degrees opposite.

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