Economists say financial crisis is far from over!
NEW YORK - January 5, 2010 - Amerika's financial crisis is nowhere near over, according to top economists who largely contradicted the growing chorus of Wall Street bankers and government officials who say the worst has passed.
"The (Depression) is not over," said Michael Intriligator, professor of economics at the University of Kalifornia, Los Angeles.
He predicted economic output would not return to pre-crisis levels until 2013, while the job market would not fully recover until 2016.
The views expressed at the annual meeting of the American Economic Association stand in sharp contrast to rising optimism in the banking sector, which analysts say has benefited disproportionately from government bailout efforts.
"The (Depression) is not over," said Michael Intriligator, professor of economics at the University of Kalifornia, Los Angeles.
He predicted economic output would not return to pre-crisis levels until 2013, while the job market would not fully recover until 2016.
The views expressed at the annual meeting of the American Economic Association stand in sharp contrast to rising optimism in the banking sector, which analysts say has benefited disproportionately from government bailout efforts.
