In a State of Ugh

Paul Krugman states there is a "Reason for Despair":

It’s depressing: shibboleths and conventional wisdom are blocking all routes out of this slump. And I worry that policy makers will just sit there, for years and years, all the while congratulating themselves on the soundness of their policies.

There really hasn't been a "recovery" as the papers, tv talking heads, Congress and the administration touts. They all however, are simply satisfied to pat themselves on the back because the rich are back to shopping. Wall St., although having its ups and downs, is not in complete disarray. And the ruling elite don't have to worry about their stock portfolios anymore. So job well done. Move along. The unemployed will eventually be dealt with by the Free Market Fairy. She works in such mysterious ways...

I am Frank Chow and I approved this message