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El-Erian: Worst recession since Great Depression ahead, 2009 will look like a flesh wound
Another 3.84 million Americans filed for unemployment benefits last week. The report comes on the heels of worse-than-expected GDP data for the first quarter. Allianz Chief Economic Adviser Mohamed El-Erian joins Yahoo Finance’s On The Move panel to weigh in on why he says there is more pain to come and how the U.S. can avoid the mistakes of the last recession.