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Krugman: 'Reasonably High Chance' Economy Will Contract Next Year (VIDEO)

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Economist Paul Krugman said on Sunday that there's a "reasonably high chance" the economy will contract in the second half of next year.

Appearing on ABC's "This Week," Krugman said he agreed with fellow economist (and Nobel prize winner) Joseph Stiglitz. "The things we know about are all gonna be negative in the second half of next year," he said. But he said the chance, while significant, was "less than fifty-fifty odds."

"I would basically go with Joe Stiglitz," Krugman added, "I'm really worried about the second half."

Stiglitz has been calling for a second stimulus.

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