Around here we take what Paul Krugman has to say seriously, which is probably why we’ve been so depressed lately. Alas (at last, even), the Nobel Prize-winning economist sees signs of hope — not in the numbers, but walking around the streets of New York and Princeton.

As Kaptain Krug himself points out, those neighborhoods are likelier to benefit from bonuses and bailouts, “but casual observation suggests a stronger recovery than anything I see in published numbers. Lots of small-scale construction — home remodeling, tear-downs replacing old houses. Many new businesses and restaurants filling storefronts that were vacant a couple of months ago.”

[Link via AMERICAblog]

— PZS

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