Paul Krugman Calls the Bottom

Nobel Prize winning economist Paul Krugman thinks August is the trough month for the U.S. economy. And yes, he is reading a lot into the improved unemployment numbers from July.

Of course, it took trillions in direct spending, guarantees and loans to do it, but he believes we've got actual growth coming. It's worth noting, too, that Krugman estimates the stimulus plans have saved 1 million jobs. So, without the stimulus, unemployment would be around 12%.

more at

http://www.nytimes.com/2009/08/10/opinion/10krugman.html?scp=2&sq=krugman&st=cse