If Paul “we just needed more stimulus” Krugman is finally using the word “depression” you know its bad.
It’s time to start calling the current situation what it is: a depression. True, it’s not a full replay of the Great Depression, but that’s cold comfort. Unemployment in both America and Europe remains disastrously high. Leaders and institutions are increasingly discredited. And democratic values are under siege.
Guns and gold, my friends.