A second Great Depression is still possible

The stock market's hitting 10,000 again. Politicians and bankers, anxious for recovery (for votes & bonuses), are claiming victory and saying the recovery is on.  I say not so fast.  Maybe we recover, but we've been credit-aholics.  Like a recovering alcoholic, relapse is a very real danger.  As Palley points out below, the econometric models … Continue reading A second Great Depression is still possible