Nouriel Roubini, the professor who predicted the financial crisis in 2006, said the U.S. will suffer its worst recession in 40 years, causing the rally in the stock market to "sputter".

I had my first jujitsu class today, to prepare for a future of fighting for bread crusts and potato peelings. I can now defend myself against a wheezing mendicant who attacks me in slow motion and tries to grab my lapels.

I’m going to get more than my share of crusts. Vote Republican, by the way.

In a Lilliluptian act of malice, the Instapundit has posted a poll asking, “On a scale of insufferability, how much more insufferable will the Nobel make Paul Krugman?”

On a scale of pathetic that’s on a level with letting down Krugman’s bicycle tyres and running away sniggering, or shaving Krugman's cat.

That will show him!

NOBEL PRIZE FOR ECONOMICS

I really thought I was in with a chance this year, but they gave it to Krugman.

OK, so Krugman is better than I am at economics, but I have had more women than he has. I don’t suppose I have had as many women as Shaggy, the popular entertainer, but Shaggy knows dick-all about trade theory. That thought is a great comfort to me.

When the media rank Krugman, Shaggy and me according to our various abilities I always come second, be it knowledge of trade theory, the number of scrubbers we have had, ability at reggae singing or wrestling skills. I come second in every instance.



-"What are you going to do to cash in on your newfound fame?"
-"I'm going to Disneyland!"

STOCKS END LOWER AFTER HOUSE OKAYS PLAN

This summary is not available. Please click here to view the post.

ECONOMIC FORECAST

Sooner or later they’ll pass their wretched bailout scheme and there will be a sucker rally for a while, then the market will start falling again, dozens of banks will go under, the dollar will hit parity with the Colombian peso, until eventually the last of the hedge fund managers is strangled by the guts of the last Republican. Then you should be able to pick up some nice recovery stocks, which should recover around the year 2080.

None of this affects me, of course, because I don’t have any money. I’m just going to point and laugh.