Global crunch starting to stabilize
One of the most world-renowned economists today who have won a Nobel Prize is Paul Krugman. Recently, he said in a seminar that the global market has avoided an incoming catastrophe. He also mentioned that it is possible that the industrialized countries may experience economic improvement and growth before the year 2009 ends. Krugman actually expects that this growth may happen within two to three months from now.
It is likely that the United States as well as Europe may start from zero and have gradual positive growth by Q3 to Q4 of 2009. However, the great economist said that he does not agree with the bailout plan of the current administration so that banks and other financial institutions can get more than a trillion of assets.