Paul Krugman posts, “A Note On The Economy“:

Quite aside from everything else going on, the economic recovery isn’t looking very good. Unemployment claims are stalled at a level that bodes ill for for the overall employment picture (don’t count on falling unemployment until that number falls well below 400,000). And the 10-year bond rate, which is my personal index of the market’s expectations about recovery, has been falling off again after rising for several weeks.
No reason to panic — but it does look as if this recovery is going to be jobless for quite a while.

That’s weird. I read somewhere that the stimulus would be having its maximum effect right now.

I know, I know — the stimulus wasn’t large enough. We’d be in great shape if we’d spent another $3 or $4 trillion of borrowed money on wind farms and new federal buildings and unemployment insurance and COBRA and weatherization projects in Detroit. That’s why Massachusetts just sent a Republican to the Senate — the people cry out for more stimulus.

Krugman bonus: In his column today, he writes, “The fact is that the Senate bill is a centrist document, which moderate Republicans should find entirely acceptable.”

Some more Krugmanisms along these lines:

“The fact is that the Treaty of Versailles is a centrist document, which the Germans should find entirely acceptable.”

“The fact is that Requiem for a Dream is a charming coming-of-age tale, which movie-goers of all ages should find entirely enjoyable.”

“The fact is that my Segway is totally awesome, which the ladies should find entirely man-tastic.”

(Important note: I made these up, except for the last one. Okay, that one too.)

And who could forget this gem from 2002?

To fight this recession the Fed needs more than a snapback; it needs soaring household spending to offset moribund business investment. And to do that, as Paul McCulley of Pimco put it, Alan Greenspan needs to create a housing bubble to replace the Nasdaq bubble.

(Important note: I did not make that one up.)

Can we please stop taking recession-fighting advice from Paul Krugman? Really. Any day now.