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RICHARD KOO: THE BALANCE SHEET RECESSION IS NOT OVER

Richard Koo says governments are beginning to pull the plug too soon. Koo has maintained that the government needs to spend until the private sector balance sheet is repaired. The U.K is already beginning to cut the deficit and the U.S. is on the verge of doing the same (we are already seeing fiscal austerity plans in CA). Ultimately, if cutting occurs Koo says the double dip will hit:

Source: Bloomberg TV

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