Larry Summers: ‘The Odds Are Very High … that in the Next Year or Two, We Will Have a Recession’

EXCERPT:

MITCHELL: “And so, you would assume it's more likely than not we're going to have a recession, if we're not already there.”
SUMMERS: “I -- I think the odds are very high, perhaps over three quarters that in the next year or two we will have a -- [coughs] -- a recession, and I think that's just what happens when you have an economy that is as overheated as our economy was allowed to become.”