Paul Krugman sees a bleak immediate future for the U.S. economy-wise in this piece. As he said, blips happen even in the worst economic times, because when economic activity dropped as deeply as it did last year, then a little jump or improvement is not surprising. The question is how sustainable it can be, and my feeling is it's not. It's funny when everytime there is some slight rise, or a decline that is not as deep as expected in the U.S., such as with unemployment figures or holiday shopping, there are industry pundits and media reports that highlight optimism, as if they expect things will return to normal very soon.