It is tempting to believe any tidbit of good news about market demand and thus fail to downsize to the current market. If one accepts that this recession began in late 2007, fourteen months ago, as recent media reports claim, then this recession is already longer than average and thus should bottom very soon. Not so. We are having two average length recessions not one super-long recession. This is not unusual. It happened in the early 1980’s and again earlier this decade.

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