Bank economists predict: ‘worse than a recession’
6 October 2008
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The word “recession” wouldn’t describe the deep structural problems affecting everything from the U.S. housing sector to the Canadian oil industry, said Bank of Nova Scotia chief economist Warren Jestin.
“You have to invent a new word to describe what we’re in now,” he said after the banks presented their perspectives at the Economic Club.
Trust me brother, the word already exists. Nobody wants to say it…yet.
CTV.ca | Bank economists predict: ‘worse than a recession’.
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