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Paul Krugman: Bleeding Britain

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What's happening in Britain now is that depressed estimates of long-run potential are being used to justify more austerity, which will depress the economy even further in the short run, leading to further depression of long-run potential, leading to ... As the Brits would say, brilliant. Just brilliant.
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At krugman.blogs.nytimes.com

 

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Sheila Samples is an Oklahoma writer and a former civilian US Army Public Information Officer. She is a Managing Editor for OpEd News, and a regular contributor for a variety of Internet sites.

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