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Politics : The Obama - Clinton Disaster
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To: GROUND ZERO™ who wrote (14370)6/26/2009 5:31:12 AM
From: puborectalis1 Recommendation  Read Replies (1) of 103300
 
Edmund Phelps, winner of the Nobel Prize in economics in 2006 and a professor at Columbia University in New York, said it may take as long as 15 years for households to rebuild what they lost in the recession.

“The only way we’re going to get a healthy, full recovery is over a long period of time, involving households rebuilding their balance sheets,” Phelps said in an interview on June 22 with Bloomberg TV. “There’s no silver bullet that’s going to get us into good shape quickly.”
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