Los Perros de San Jose, Nicaragua: Remember our dictum: the force of a correction is equal and opposite to the deception that preceded it. As we looked out over the absurd hallucinations, delusions and lies of the Bubble Years — oh, those happy days! — we warned that the coming correction “would be a doozy.” And a doozy it is. “Doozy” is a technical term we feral economists use. “Depression” is what most people call it. “Slump worst for 50 years,” is the big headline in the Financial Times over the weekend. “Data reveal recession worst than feared.” And the … Continue reading A Doozy of a Depression