Contrary Indicator Alert:: "We have managed to avoid a second Great Depression"

Economist Paul Krugman made it official: there will be no Great Depression 2.

His statements made great fodder for the expected array of sweepingly optimistic headlines in the mainstream press.

Bold declarations and sweeping statements make for great contrary indicators. By the time someone has the conviction to make such a statement it is either: irrelevant, already priced in, or the last one to pile on the bandwagon.