I’ve said it elsewhere, but this is important to keep in mind about the current economic clusterfuck:

A true recovery will require three things.

  1. Higher savings, which the Krugman types will hate.
  2. Increased incomes via labor power, which the right-wing will hate.
  3. An endless supply of patience as the bile dissipates, which we’ll all hate.

If we don’t see all three, then either we’re inflating another bubble or it’s pitchfork time.  Period.