Karl Denninger, sent Paul Krugman a letter:
"You were quoted on Bloomie this afternoon claiming it (the recession) would be over by September.
I'm the guy who writes http://market-ticker.org.
I'll bet you're wrong - not a snowball's chance in hell The Recession is over on or before September. We'll go with the NBER's official claim (even though I'd argue its flawed.)
The loser puts on a clown suit and either shows up at CNBC to wear it and admit they're wrong, or, if CNBC won't have the loser, does it on Youtube.
Krugman won't take Karl's bet, but I will!
We've already had the snowball in hell. That's when Berkshire was downgraded! After all, wasn't his biography "Snowball?"
So there's not a snowball's chance in hell that Karl is right!
Because you need a cold day in hell for snowballs!
Now let's see if Karl gets cold feet.