Congratulations to Paul Krugman for his ninth bear market recession forecast in the last four years.
My only criticism of his column in The New York Times today is his boring lack of creativity. He cites the housing slump. He cites China, and junk bonds, and hedge funds, etc.
It’s almost as boring as Alan Greenspan’s forecast that the economy is going into recession because it's going into recession, meaning that after five years we’re due for a recession.
But back to Mr. Krugman.
He dated today’s recession forecast and stock market meltdown February 27th, 2008. Get it? It’s really a year ahead! So that would make this his tenth recession forecast.
But the really neat thing going on here is that he could’ve dated today’s meltdown forecast Feb 27, 2003…or 2004…or 2005…or 2006. (In fact, I should probably Google it and see if he’s already done just that.)
At any rate, many congratulations to Mr. Krugman.
Congratulations are also in order to The New York Times. Thank you for running his column. Very helpful stuff. Don’t know what I’d do without them.