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Mr. DEUTSCH: Just as we had irrational exuberance a couple of years ago in terms of capital flowing into the markets, I think you have irrational depression now where investors have a, you know, very pessimistic view, whether that's founded or unfounded, until there is some trigger mechanism to turn the tide.
NPR: Treasury Secretary Redefines Bailout
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I've had the good luck to have lived through the Great Depression and every recession since, and I'm still here, which is the good news.
FORBES: Magazine Article
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So, for example, on the basis of conventional GDP, UK output is still 3% below the peak it hit at the beginning of 2008 (making this, as Stephanie and I have said many times, the longest depression in a technical sense for at least 100 years).
BBC: How pretty is the UK without the "bad bits"?