“Many of you who have read my work in the past are familiar with the concept of a Muddle-Through economy. It’s that slow growth market in a 1% to 2% rate, with rising unemployment and a slow jobless recovery. I talked about that in 2001 and 2002, and I said two years ago that I thought we were going to see another Muddle-Through economy after the end of this recession. But given what I see now, 1% to 2% may be rather aggressive over the next two years…”
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