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There's a huge difference.

Depression also implies destruction of businessess and employment.

There are ways and ways of reducing the wage bill, if that's what one wants to do.

tens of millions of people stand to see their lives ruined because the bureaucrats at the ECB don't understand introductory economics -- Dean Baker

by Migeru (migeru at eurotrib dot com) on Mon Feb 20th, 2012 at 12:52:47 PM EST
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