CSPAN2 Tonight From Washington August 18, 2011
from that period. the fallout from financial crises is, big ones, is almost always very slow, and recover usually does take a number of years. so i mean, part of what is happening today is kind of cyclical, and the problems will mitigate and go away once consumers d. leverage and can spend again, but that is a very long process and it will be all the longer if government hinders rather than helps. but you are right, the other thing that is going on that i have tried to describe in this talk is much more than business cycles. it is an acceleration of the middle-class driven by technol...