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Jan 30, 2009

NPR's Davidson talks about the economy

Adam Davidson, a international business and economics correspondent for National Public Radio, explained to a group of 260 people that the U.S. financial crisis blindsided economists and none of them see an easy fix.
The Sun Journal reports that Davidson still believes, however, that "the economy will recover and the country will emerge still a world business power"
From the story:
Neither the Troubled Asset Relief Program nor the government stimulus package that Congress is now considering will guarantee a solution, particularly a short term solution, Davidson said.
"It was so far down the road that even the best predictors don't know how to get off of it, how to fix the problems," said Davidson. "At the same time, they don't know how bad things will get before they get better. It is a long-term issue.
"The consensus of economists is that nobody knows if the stimulus will work; there is a big debate among them."

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