We have a lot of experience of post-war economic cycles and you have to be profoundly gloomy to believe that this one will be outside the boundaries that these define. I would go further: you have to be profoundly gloomy to believe that the next few years will be as bad as the 1970s, in economic terms the most difficult of the post-war decades. Then there was double-digit inflation and a double-dip recession in most developed countries, followed in the 1980s by double-digit unemployment in many of them as inflation was slowly ground out of the system.
I just disagree with the reality of the assertion, not that it is an incorrect one to make. In the long run, we're all dead. John Maynard Keynes
you have to be profoundly gloomy to believe that the next few years will be as bad as the 1970s, in economic terms the most difficult of the post-war decades
He's not talking about the worst decade or not.
