I would agree with that. While there are few certainties in life, apart from death and taxes, there is a certainty that the US economy is going down.
The day to day girations of the POG are desperate attempts by banks and others to throw red herrings. But the writing is on the wall.
Unemployment instead of going down is up again. THey are saying that employment is a lagging indicator and eventually it will pick up. This is wishful thinking rather than fundamental reality.
The action in the bond markets will tell the story. Deflation and rising interest will be a nightmare. But I am sure there is another rabbit in Greenspans hat, even if it is a dead one.
