Martin Hutchinson at Prudent Bear gave his view on Monday - the way out of the crisis will either be long and difficult, or short and painful:
...the choice is between a short sharp depression, albeit presumably less severe than 1929-33 (unless the forces of protectionism take a hand as well) or a lengthy period of stagflation like the 1970s, probably with a deeper dip than 1973-75. The third possible pattern, a prolonged period of stagflation like Japan in the 1990s, now seems rather unlikely.
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