For those economists amongst you, here is the update to the Eichengreen/O’Rourke analysis from last year comparing recent events with the Great Depression era. Things are looking up it seems but don’t withdraw the stimulus too early is the message.
5 Responses to “Risk of double-dip recession remains, but it’s receding”
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AUTOREFRESH 
hi goof day ; off the topic
hi , today news about japan machinery orders falls , it is main contory depends upon exports but it didnt much afficted the yen , is there any economic or technicle reason for yen stability? thank ypu
double dip receding…lets visit this topic end of august/sept …
HI Sean, not sure how you arrived to that conclusion, looking at the charts they show in the report dont make one more optimisitc, and in fact their written opinion in the article is the following:
“To sum up, globally we are tracking or doing even worse than the Great Depression, whether the metric is industrial production, exports or equity valuations. Focusing on the US causes one to minimise this alarming fact. The “Great Recession” label may turn out to be too optimistic. This is a Depression-sized event.”
Hi Emilio. I think that’s the conclusion that they made last year and they have now updated their forecasts which is the top half of the article. It’s a bit confusing which is standard fare for all economists!!
You are right Sean. I scanned through and didnt realise the upper bit is an update on their former report. Thanks for the clarification.