Monday, April 20, 2009

How Bad is the Current Crisis?

From Menzie Chinn at Econbrowser comes this graphic lifted from the IMF's latest World Economic Outlook. Menzie makes two points that I have made as well: a recession is bad enough but a recession with a credit crisis is worse and a recession with a credit crisis and a worldwide downturn is even worse.



The answer: really, really bad.

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