Economist Brad Delong has a paper up on his blog, Grasping Reality with Both Hands, in which he paints quite a bleak picture:
"Thus I can see no reason to believe that there will be substantial private sector forces to push the employment-to-population up anywhere toward normal over the next several years. And we have shot ourselves in the head with respect to expansionary government policies. I see no possibility for any such on a large scale for the next two years, and possibly for longer"
I am reading it this morning and CNBC is squawking about the November ADP jobs report coming as the biggest gain in three years, adding 93,000 jobs. Who even knows anymore! Just get long and get loud?