Posted by jeff on .
By 2008 the US trade deficit was still very large (roughly 5% of gross income) and our net debt position was around $5 trillion (over 1/3 of gross income). Unfortunately, it also appears that we have fallen into a major recession of uncertain duration and depth. Discuss the causes of this current recession, and: a) the discernible differences between Keynesian and Classical (aka Monetarist) in their preferred approach to recovery; and b) the parallels with Japan's (non-) recovery.
1. causes = http://search.yahoo.com/search?fr=mcafee&p=causes+of+the+current+recession
2. differences = http://search.yahoo.com/search?fr=mcafee&p=differences+between+Keynesian+%26+Classical+%28Monetarist%29+in+their+approach+to+recovery
3. parallels = http://search.yahoo.com/search?fr=mcafee&p=parallels+with+Japan%27s+non-recovery+of+recession