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01-12-2009, 03:52 PM #1
Chief Economist: It’s A Depression
Chief Economist: It’s A Depression
Morici one of first senior analysts to admit U.S. faces 1930’s style collapse
Paul Joseph Watson
Prison Planet.com
Monday, January 12, 2009
Professor Peter Morici, a former chief economist at the U.S. International Trade Commission, has become one of the first senior economists to admit that the U.S. is facing a 1930’s style depression.
Noting that 2.6 million payroll jobs have been lost since December 2007, Morici told financial publication Kiplinger that a 5 per cent contraction in the fourth quarter made the crisis “worse than a recessionâ€Join our efforts to Secure America's Borders and End Illegal Immigration by Joining ALIPAC's E-Mail Alerts network (CLICK HERE)
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