The economic future isn’t what it used to be

Source: Paul Krugman, New York Times (Paid Registration)

Lehman failed ten years and two weeks ago; this coming Wednesday will be the 10th anniversary of the enactment of the Troubled Asset Relief Program, aka the bailout.

While many tout its successes, the reaility is that we’ve returned to sort-of full employment at a much lower level of real GDP than informed people projected we’d reach before the crisis struck.

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