We're shaping up for a right royal battle between King Kong and Godzilla.
On the one hand, we have King Kong representing the myriad of risk factors likely to weigh on and mitigate against recovery (inflation specter, massive debt funding, twin deficits, global imbalances, dollar deterioration, rising taxes, anemic job market, consumer saving, debt deleveraging, etc., etc.).
And on the other hand, we have Godzilla representing the natural pull of a recovering business cycle (including massive fiscal and monetary stimulus).
You can't stay down forever, but you sure can wallow in the mire for a while.
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