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Erik Cagle
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Paparozzi notes that while the economy continues to heal, he continues to remind observers of NAPL's prediction of a protracted recovery period. The Great Recession ended in June 2009 but, while the contraction has stopped, all is not quite well.
"As NAPL has long emphasized, this time recovery would be painfully slow and maddeningly inconsistent, because there is no easy way to purge the excesses—the debt, the housing bubble, the toxic financial instruments that spread the crisis worldwide—which caused the Great Recession," he says.
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Erik Cagle
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