Thanks Slate and FP!

Slate and Foreign Policy are now under the same umbrella. Here's five economists noting all the reasons why we still have a long way to go before economic recovery ensues:

http://www.foreignpolicy.com/story/cms.php?story_id=4590

I couldn't be more thrilled to see such a perspicuous collection of notes, thoughts, and analyses. Look at the names, too: Roubini, Shiller, Smick, Roach, and Baker. Big brains.

The one thing lacking from the analysis is the possible ameliorating effect of Obama's stimulus plan. I don't fault the economists, though, because there is no way to predict how an inchoate rescue plan will operate. I hope in ten months' time these same analysts will be singing the praises of Obama's proper application of Keynesian stimulus. Somehow, though, I think we're in for a rough ride with an uncounted number of stimulus projects being marred by graft and waste.

Of particular note is the emphasis on an inflation bomb (Baker), weak commodities (Roach), and the overwhelming absence of a valuble asset in the marketplace right now. It's as though for fear of a bubble emerging, nothing is worthy buying. That is a crisis of confidence. Only time will restore fundamentals to the world economy and restore reasonable prices to assets and goods.