Rarely have opinions on the US economic outlook differed so much. Some observers interpret the sharp slowdown in US growth in late 2007 and early 2008 as the beginning of a long and nasty recession during which the US needs to purge itself of its excessive addiction to credit. Many of these pessimists had maintained for years that the comparatively strong US economic performance for the last 5, 10 or even 15 years was built on unsustainable foundations which have now – belatedly – started to crumble. However, others see the current calamity as a temporary and comparatively shallow interruption in a remarkable uptrend.
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Schmieding, H. (2009). US Economic Outlook: Beyond the Credit Crunch. In: Welfens, P., Addison, J. (eds) Innovation, Employment and Growth Policy Issues in the EU and the US. Springer, Berlin, Heidelberg. https://doi.org/10.1007/978-3-642-00631-9_7
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DOI: https://doi.org/10.1007/978-3-642-00631-9_7
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