Paul Krugman discusses the contrary indicator of magazine covers using that Paul Krugman Newsweek cover as an example. Heh.
(As far as the substance goes, I'm glad Krugman is speaking out about his reluctance for the existing Obama plan - while of course I hope Obama's plan works, having a credible guy like Krugman out there will undoubtedly wield some kind of pressure on the administration. My guess is that the President wouldn't enact a plan he didn't believe would work - he has nothing to gain from a practical or political point of view if it doesn't. So while Geithner hasn't wowed me, I trust the President.)
UPDATE: It's also worth noting what it takes for an outspoken liberal to get on the cover of a newsweekly. You have to be on a different side of an issue than a Democratic president.
So say we all.