Dear Barack from The Rude Pundit

Dear Barack,

We've had some good times over the last few years. Hell, 2008 was one of the most hopeful times in my life. Remember all those rallies and adoring crowds? God, it was wild. I didn't think I could keep up with you; you were so intense, so passionate. But once we started living together, things changed. More

Krugman:

OK, OK, we always need to bear in mind Paul Samuelson’s line about how the stock market had predicted nine of the last five recessions. Still, the markets do seem to be telling us a couple of things:

1. The world looks a lot more like the way it’s viewed by the Krugman/Thoma/DeLong axis (hey, I like it) than as viewed by, say, the WSJ editorial page.

2. Policy makers have been worrying about the wrong things, obsessing over deficits when the real problem was lack of growth. More

The Wrong Worries

The Wrong Worries
By PAUL KRUGMAN
Published: August 4, 2011

In case you had any doubts, Thursday’s more than 500-point plunge in the Dow Jones industrial average and the drop in interest rates to near-record lows confirmed it: The economy isn’t recovering, and Washington has been worrying about the wrong things.

It’s not just that the threat of a double-dip recession has become very real. It’s now impossible to deny the obvious, which is that we are not now and have never been on the road to recovery. More