Postmodern recessions – Paul Krugman – Op-Ed Columnist – New York Times Blog

Link: Postmodern recessions – Paul Krugman – Op-Ed Columnist – New York Times Blog.

blah, blah, blah… except this seems to make a bit of sense. We have flattened out the recessions, but they last longer. My big question is that it appears that the sub-prime mess has gotten us into this slump, which affected housing, which affected consumer spending, which affected all of us, and since sub-prime lending is not interest rate driven, could it be that cutting interest rates will not have a positive effect on pulling us out of the slump?

Published by Todd Nelson

I'm one of the pastors at First United Methodist Church in Lexington, Kentucky where I've served for the past thirteen years. The sub-title of this blog is "Grace is no accident" which happens to be the defining reality of my life. God's grace (gift) is the reason we have breath in our lungs and hope in our hearts.

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