I CERTAINLY HOPE THIS IS RIGHT: The Most Intense Period Of The Recession Is Behind Us. I’m not so sure, though. Seems more likely that the recession is just getting started. The “stimulus” seems mostly good for padding the wallets of the well-connected, so I don’t see a lot of benefit there. But maybe I’m overly pessimistic.

UPDATE: Reader Phil Manhard thinks I am, and explains why:

Of course the most intense period of the recession is behind us – tomorrow is 20 January. Just read any of the so-called mainstream media – the same data will look tremendously different when illuminated by hope and change.

Good point!