Stocks are plummeting after a long but sluggish slide. Companies are signaling serious problems with growth. Markets are shrinking. Profits are tumbling. Banks are announcing huge losses. Entire countries are facing bankruptcy. Central banks are returning to anticrisis measures. Economists of renown are forecasting gloom. And bears are rejoicing the world over. Am I a bear, too? Not at all. I am rejoicing only because there is a trace of rationality left to this world. The so-called recovery after the last crisis was a sham. It led absolutely nowhere but into new and more pernicious bubbles. I cannot but be happy that this is recognized at long last. And it was high time. The path ahead is murky, and it will remain so perhaps for years, but at least there are no more fake lights to show the way. It was the fake lights that gave me the jitters. More, they drove me berserk.