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Jon Talton

Analysis and commentary on economic news, trends and issues, with an emphasis on Seattle and the Northwest.

October 28, 2011 at 10:05 AM

Vote: Did we step back from a worse recession?

So German Chancellor Angela Merkel stood up to the bankers and forced them to take a serious haircut to save the eurozone. Is she available to run for president in 2012? It’s bracing to see somebody show some (insert very long German word for intestinal fortitude) instead of doing another bailout where the enablers of crisis walk away with 100 cents on the dollar, or euro. Will it really work to stop the crisis in Italy from spreading to Spain and causing the breakup of the eurozone with all its ugly consequences on this side of the pond? Nobody knows.

Meanwhile, a report showed that GDP in the third quarter backed away from the stall speed of earlier this year. The bad news: Real disposable income fell and savings-rates sagged. The worse news: Even 2.5 percent GDP growth isn’t enough to fix the unemployment crisis. Which brings us to this week’s question:

Have we backed away from a worse recession


The Week’s Links:

Comments | More in Eurozone, Great Recession, Great reset, Income/living standards, International economy, Outlook

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