If you make me expect it too much I’ll be very let down when it doesn’t come.
I can only see 6 months to 1 year ahead, at the most.
If you keep on telling a girl that you’ll marry her but can never save enough to buy her a ring, what do you think will happen?[/quote]
That is the million dollar question. I’d say the market is ready to turn and cause a host of problems. Though, I differ from Rich slightly, in that I see a quick but intense deflationary bought before destructive inflation and very real funding problems in less than 18 months. I think bad times are ahead in early 2010 and could become noticeable this year.
In Krugmans defense, his style of monetarism is the predominate theology. His squabbles with the Fed and other main stream analysts are analogous to priests arguing over how many hail mary’s to do to achieve redemption.
