My friend Malcolm Harris, who is a real economist and a professor at Friends, would probably differ with me on that last blog post. We had a chat the other day about this, and he maintains that the two downturns are different. This one is really just a typical recession and we have to work out the economic overhang — in this case, work off the bad consumer debt — and that Keynesian spending isn’t the solution. As long as world trade isn’t cut off, we just have to work out way through it.