I could not agree more. I am a regular reader of The Economist, and they have been talking about the housing and credit problems for years. This magazine is certainly not one to make wild predictions.

I also find it annoying that article's title was significantly changed from "A faint sound of applause" to "The recession may be lifting". These do not remotely say the same thing, and this article is not saying that the recession is over, unless I am misunderstanding this quote: "Yet even if the bottom in economic activity is in sight, a robust recovery almost certainly is not."