Thursday, May 14, 2009

Rapid Recovery ?

Paul Krugman said Tuesday, at a forum in Shanghai, what the readers of this blog know already (“Stock Prices: A Sucker’s Rally?”, May 9) about the two-month rally that has restored $ 8.9 trillion to stock markets around the world:

“It looks to me as if the markets are now pricing in a rapid recovery, that they’re pricing in a V-shaped recession, which I consider extremely unlikely” (Bloomberg, May 12).

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