Worst May Be Behind Us

The econopocalypse may have hit the bottom (from the AP, via MSNBC). Experts are reporting that we're in an uneasy peace, though:

Bernanke, however, has been quick to caution that this will happen only if the government succeeds in stabilizing financial markets and getting banks to lend money more freely again to both consumers and businesses. To that end, the Fed recently plowed $1.2 trillion into the economy in an attempt to reduce interest rates for mortgages and other loans.

I had a feeling that all the rhetoric about this being the worst economy since the depression might be misleading. I don't dispute how bad things are, but I think comparing now to the Great Depression is a bit like comparing the Appalachians to the Rockies.