The Economy will get a lot worse

Do you think the economy is showing signs of recovery?
The Economist says it's going to get a lot worse, for a long, long time, before it gets better.

From The Economist:

Thanks to massive--and unsustainable--fiscal and monetary transfusions, output will eventually stabilize. But in many ways, darker days lie ahead. Despite the scale of the slump, no conventional recovery is in sight. Growth, when it comes, will be too feeble to stop unemployment rising and idle capacity swelling. And for years most of the world's economies will depend on their governments.

Consider what that means. Much of the rich world will see jobless rates that reach double-digits, and then stay there. Deflation--a devastating disease in debt-laden economies--could set in as record economic slack pushes down prices and wages, particularly since headline inflation has already plunged thanks to sinking fuel costs. Public debt will soar because of weak growth, prolonged stimulus spending and the growing costs of cleaning up the financial mess. The OECD's member countries began the crisis with debt stocks, on average, at 75% of GDP; by 2010 they will reach 100%. One analysis suggests persistent weakness could push the biggest economies' debt ratios to 140% by 2014. Continuing joblessness, years of weak investment and higher public-debt burdens, in turn, will dent economies' underlying potential. Although there is no sign that the world economy will return to its trend rate of growth any time soon, it is already clear that this speed limit will be lower than before the crisis hit.

A glimmer of hope?

From the American perspective there are glimmers of hope alright - granted most are very dim, but they are there.
The reality that the economic depression we are in is nowhere near bottom is also there.

One of the brightest glimmers is we have a Democrat in the White House and Democrats control Congress and when that happens the economy booms ... of course with the repugicans having so utterly destroyed the economy a boom will bring it back to level.

And this time when it does return to level and begins to grow again we will not forget what the repugicans did to fuck it up in the first place and we will not allow them access to do it over again as they have every time they have stolen access (they have never won a legitimate election and they never will - they do not have the numbers for it ... never have had the numbers and never will).