In 2008, former U.K. Chancellor of the Exchequer, Alistair Darling, described the state of the economy as "arguably the worst it has been for fifty years." Of course he made headlines. Then, in a bout of uncharacteristic political honesty, he further deepened the sense of staring into an economic abyss by adding, "I think it is going to be more profound and long lasting than people thought."

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