by Calculated Risk on 4/25/2008 01:54:00 PM

From CNBC: Nobel Winner Stiglitz: US Facing Long Recession (hat tip squeezed)

The U.S. economy is already in recession -- and may echo the 1930s, Nobel Laureate Joseph Stiglitz said Friday.
...
"This is going to be one of the worst economic downturns since the Great Depression," said Stiglitz.

See video at CNBC: "Roubini is not far off."