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Great response. I wrote a  comment, but gave up.

It's actually darkly amusing to see how this Economist find recessions one of the few things that must be real and fundamental. Oil running out? There'll be substitutes. Not enough clean drinking water falling out of the sky? The market will provide...

Recession? All bow ye before the god of the invisible hand and take your punishment without whining...

by Metatone (metatone [a|t] gmail (dot) com) on Wed Apr 25th, 2007 at 07:34:21 AM EST
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Yeah, he does have rather an exalted attitude.

I found it interesting that this appeared in the MSM. Now that the media can't cheerlead for the housing bubble (and the trade deficit) without looking totally clueless, they (or at least some of them) are trying to make the consequences palatable.

The fact is that what we're experiencing right now is a top-down disaster. -Paul Krugman

by dvx (dvx.clt ät gmail dotcom) on Wed Apr 25th, 2007 at 07:47:07 AM EST
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