See that hiccup in 1931 (about 16 months into the Great Depression) where it looked like for a couple of months things were going to turn around? Now see the two years of continued depressionary disaster after that hiccup in 1931?
We're about 16 months into this economic downturn now.
Here endeth the lesson.
[UPDATE] Keep dreaming about that V shaped recovery in 2009, says Roubini.
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