Well, he is, but the idea of a W-shaped recession is becoming more and more pronounced and, dare i say, popular. Here's a quick 60 second read that echos what TSM believes is the reality of things (ps, this was an article find by TSM's dad!). Keep in mind that a W-shaped recession (as opposed to the previously known, ramped up V-shaped recessions) may do well to keep inflation worries away. I guess its a pick your poison kind of thing.
http://247wallst.com/2009/06/15/another-vote-for-a-vicious-double-dip/
For good measure, consider recent comments and computations by the International Monetary Fund - which is decidedly less pro-American and quite objective and accurate really. The IMF:
"Raised the growth forecast for U.S. for 2009-10. GDP is forecast to contract 2.5% in 2009 compared to 2.8% previously estimated. In 2010, the economy is expected to grow 0.75%. Given financial strains and adjustments in the housing and labor markets, a solid recovery is projected to emerge only in mid-2010. The Fed can ease credit further if conditions worsen. Additional fiscal stimulus could also be considered if the economy doesn’t bounce back. But monetary and fiscal stimulus may stoke concerns about inflation and rising debt, exerting upward pressure on interest rates"
That isn't exactly in line with the strong 2nd half 2009 and particularly 2010 GDP forecasts by many of the bullish predictions that have correlated this recent market rally.
Also consider this CNBC article. Nouriel Roubini and Meredith Whitney are two mainstays as far as people or resources you must consider and listen to in any economic environment.
http://www.cnbc.com/id/31371062/site/14081545/for/cnbc/
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