“ACADEMIC PAPERS ON THE ECONOMY AND finance are for the most part like uncooked oatmeal — hard to digest.” As we try to make sense of how we got to where we are and what tomorrow holds for us, Alan Abelson writes in yesterday’s Barron’s about a recent study that sees more bumps ahead for the economy and the market. The study bears the title, “The Aftermath of Financial Crises,” and it’s by Kenneth Rogoff of Harvard and Carmen Reinhart of the U of Maryland. A good read and may be helpful in trying to put into perspective that might assess us in adjusting to what will likely be a protracted resession for the next three to four years.
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