Thursday, March 19, 2009

The recession's Churchillian moment?

To quote Churchill

"Now this is not the end. It is not even the beginning of the end. But it is, perhaps, the end of the beginning."

Or, in econospeak:

"I don't think that this is the beginning of a recovery. It's the beginning of a much slower pace of decline," said Ethan Harris, an economist with Barclays in New York. "You've got to walk before you run."

U.S. economy shows signs of crawling out of hole | Reuters

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