Hugo Dixon of Reuters Breaking Views spoke to CNBC about the prevention of a Second Great Depression and the policies that need to be pursued now.
- 1:05 We’ve got rid of the Great Depression scenario, but we have a lot of weight on the economy.
- 1:45 We are not in the snap back V-shaped recovery that people hoped for.
- 2:20 These sort of recessions linger much long than those caused by the ordinary business cycle.
- 3:30 What happening in 2008 and 2009, in terms of bailouts, was vital. But governments have to be decisive about peeling back stimulus.
- 4:50 We need to move towards balanced programs, unemployment will remain high, but it has to be done. And it will be nothing like the Great Depression.
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