Douple dip recession or depression coming?

Will there be a double dip recession or even a depression after the recent subprime financial meltdown?

A chart from the Wall Street Journal, which superimpose stock chart of the 1930s Great Depression and recent stock movement, seems to suggest an imminent major correction. If the trend is true, there will be just one last rally before the plunge.

Nobel Prize winner, Paul Krugman, believes in a double dip which will lead us to the Third Depression. He is well respected.