Reply #45: I haven't read any Krugman in a while

[truedelphi]

But if he thinks that his jobless recovery has stabilized, it is only because he has a job and food on the table.

Definition of a recession - when your neighbor is out of work.

Definition of Depression - when you are out of work.

Well, the stock market BUBBLE will implode as it is only a matter of trying to decide whether it will be this fall, as Geithner's request for a raise in the debt ceiling suggests. (He wants the ten trillion dollar plus debt ceiling to be raised before October first, or once again, it will be said by the Powers That Be that all hell will break lose.)

Or maybe we have pumped enough money into the Big Banksters' pockets that the economy will continue down the merry path of the stock market investors having champagne dinners for about three years. But three years is tops.

Already most forecasters are pretty paranoid. You might try and listen to the Max Kaiser interviews that are up on DU every Saturday morning. KArl Denninger is not too optimistic. The people who write the "Money Market" forecast newsletters are pretty glum.

And then there is the view of looking at what your typical billionaire Wall Street hustle like Jim Rogers says. He doesn't even want to raise his kid in the USA as it will be so terrible here.

It is not a pretty picture.