I have a link to Mish's Global Economic Trend Analysis in the right frame Blog List. I'll admit I don't often read it. The Title of this post caught my eye, though.
Anyone who thinks recovery is around the corner will have to help me understand how and why, in the face of what is presented in the link.
Not for the faint-hearted, I'm afraid.
8/08 Update.
More pessimism from Mish
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2 comments:
Just commenting on this old economics post because I just looked at the stats released today for July unemployment and consumer spending. They're bad. Not as bad as in the first quarter of this year, but bad. Krugman insists that we need more stimulus. I agree. There has to be a massive Depression-style building program to provide jobs, as well as other jobs creations programs such as job creation credits and such, or we are going to have massive unemployment and misery and probable social instability that will most likely lead to a fascist regime since the Communist alternative no longer is there to make our rulers compromise on "social democracy" European-style.
Will it happen? Who knows. We'll see, I guess.
- Badtux the Economics Penguin
I sometimes see the world in cartoon images, and thus imagine fascism is the devil sitting on democracy's right shoulder - a not always clear, but ever-present danger.
Eight years of Bush fear-mongering and personal-rights erosion were a perfect set-up for fascism. Obama's willingness to adhere to some of the worst Bush policies is not an encouraging sight.
I am not optimistic about the world we are leaving to my grandchildren. Your post about the evaporation of the American dream plays into this as well.
Jzb the left-leaning trombonist
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