Writing as “Spengler” at Asia Times, David P. Goldman is gloomy. A nugget:
The so-called American economic recovery won’t die, because it’s undead. It was a zombie to begin with. Equity investors during the past six weeks came to the collective conclusion that the US is not in the early phase of an economic recovery, but in the endless middle of a structural slump, in the term of Nobel Prize winner Edmund Phelps.
Read the whole thing, then go have a drink. Or four.