Repeating the Mistakes of the '30s?: ; We Have High Debt a Terrible Economy and Poor Leadership

Summary

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WASHINGTON - "We are back in a danger zone," says a top economist at the International Monetary Fund. Though an understatement, it captures the central paradox of this year's annual meeting of the IMF and World Bank.

Everyone is alarmed at the swift deterioration of the economic outlook, but there is no leadership - no consensus on what to do or, even when crude agreement exists, little conviction that practical politics will permit action.

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Extract

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Repeating the Mistakes of the '30s?: ; We Have High Debt a Terrible Economy and Poor Leadership

There is a hazardous vacuum of ideas and power.

Actually, what needs to be done is not obscure.

Europe is now the flash point of global concern. Most of its major countries are heavily indebted.

The economy has slowed to a craw...

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