With the end of month rally in stocks, to provide fatter bonuses for fund managers, the happy-talk is flowing hot and heavy on the financial networks and the internet chatboards.
However, based on the facts there should be little doubt that the US is in an economic recession.
The only question is 'depth and duration?'
Expect the next phase to be the 'bottom-callers' predicting that stocks are starting to rally in expectation that the economy will recover in January 2009, roughly about six months out.
