Larry Summers provided a "progress report" on how things have been going with the economy on Friday at the Peterson Institute for International Economics. We didn't see the thing live and have yet to watch a clip, so it's unclear if the following was delivered with one of Big Lar's trademark curls of the lip that would indicate a joke or if he was dead serious here. We did however, just listen to an audio clip, and where the Economic Adviser/stand-up comic would normally pause for laughter from the audience, he continues on with nary a peep from those assembled at Caroline's. So I guess...he was doing this straight?
"The anxiety stretched well into the mainstream. Take one example as an indicator: Google searches for the term "economic depression" were up fourfold from their pre-crisis levels," Summers said. "Now, he says, such hits have returned to normal levels."