“The recession has bottomed out … Indications point to a turnaround … Signs of a recovery …”

Signs of a recovery? What signs? Like these, you mean?

– “Associated Press – (Jan 19 2010) – Bankruptcy filings sharply increase in Louisiana”

– “Yahoo.com – (Jan 19 2010) – Nearly a year after the Obama administration unveiled its ambitious housing rescue program, foreclosure tallies continue to break records.”

– “Business Times – (20 Jan 2010) – Citigroup takes US$ 7.58b loss in fourth quarter”

– “Business Times – (20 Jan 2010) – Japan Airlines yesterday filed for court protection from creditors”

– “Exim India – (19 Jan 2010) – ‘K’ Line to revamp box shipping in 2010. This comes amid projections that the worldwide container shipping industry will record a maximum annual deficit of JPY2 trillion in 2010. ‘In view of the adverse circumstances and in the absence of a clear roadmap for overcoming this unprecedented global economic crisis, it is necessary to be realistic and pragmatic,’ said its president and CEO.”

– “International Transport Journal – (15 Jan 2010) – Astag, the Swiss association of commercial vehicle operators, has pointed out that bankruptcies in the Swiss road haulage industry increased by 91% in 2009, as ascertained by Dun & Bradstreet.”

… or maybe like this encouraging sign in The New York Times – (January 18, 2010):

– “After Dubai – When it looked as if Dubai would go bust last month, making global financial markets swoon, its wealthy neighboring emirate stepped in and bailed it out with a $ 10 billion loan. Unfortunately, Dubai isn’t the only one teetering on the brink. Greece is also in trouble; so is Ireland. Others could follow. Unless the world’s richest nations come to the rescue of weakened states, the global financial crisis might sprout another leg and stop the nascent recovery in its tracks … The most immediately vulnerable countries are in the European Union. Greece’s budget deficit exploded as recession took its toll, leading to a downgrade of its credit rating and a collapse in the price of its bonds. Ireland’s economy is expected to contract 7.5 percent in 2009, Italy’s 5.1 percent and Spain’s 3.8 percent.”

“Nascent” recovery? More spinnage. Listen to “K” Line’s CEO again. “In view of the adverse circumstances and in the absence of a clear roadmap for overcoming this unprecedented global economic crisis, it is necessary to be realistic and pragmatic.”

[But there’s really no need to be “realistic and pragmatic” … the “nascent” recovery has begun.]