Microsoft reports losses, the Dow is overvalued, Nouriel Roubini sees a "perfect storm" ahead, consumer confidence is down, double-digit unemployment in Michigan, Florida and Atlanta, the FDIC seized six banks Friday, and major banks are bracing for a wave of defaults on commercial real-estate loans . . .Hey, how come nobody's blogging about this stuff? Well, somebody is: NOT TUCKER CARLSON.
I don't think it's supposed to work. A quick recovery would probably lead to the recession double-dipping into 2012. That seems to be why most of the "stimulus" doesn't get spent until 2010-2011. The economy is on a political calendar, setting up "It's Morning in America" ads for September 2012.
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