Ken Rogoff: Unemployment, Housing Will Get Worse Before They Get Better

December 8, 2009 · Filed Under Uncategorized 

Rogoff and co-author Carmen Reinhart of the University of Maryland make the case that the “this time it’s different” argument doesn’t hold water, based on financial history. Too often boom periods are marked by excessive accumulation of debt and overspending, whether by consumers, banks or the government. Sound familiar? Indeed. And Rogoff says the current economic rebound is “eerily similar to average [recoveries] of past post-war crises.”

http://finance.yahoo.com/tech-ticker/article/386451/Ken-Rogoff-Unemployment-Housing-Will-Get-Worse-Before-They-Get-Better?tickers=dia,spy,%5Edji,%5Egspc,%5Eixic,MAN,XHB

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