Significant update

(4 pm. – promoted by ek hornbeck)

I will merely note in passing that Ian Welsh has updated his pessimism.  I find this significant, because Ian has always seemed one of the most level-headed of econ bloggers, astute, plain-spoken, and common-sensical.  I hold him at the positive (optimistic) pole of my economic confidence interval, whereas Stoneleigh (Nicole Foss) and Ilargi delimit  the negative pole.  That confidence interval has shrunken considerably, in the direction of negativity.  It’s become more Dmitry Orlov-ish and less Krugman-esque.  There is less room to maneuver.  Time is running out.  Two-minute warning, no time-outs.