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David Rosenberg: Paul Krugman's Doom Warning Is Spot On

The bond market is telling a very important story here and it is one of a deflationary depression. We may not agree with Paul Krugman’s cure of solving a credit collapse by trying to create even more credit, but his diagnosis is spot on. The same ECRI that correctly foreshadowed the inventory-led bounce in GDP over the past four quarters is now signalling a very high chance of either a double-dip recession or a growth collapse of 2002 proportions.

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