It appears to be, if you look at this chart and the recent direction of the blue line.
But as Paul Krugman observed, look at the gray line labeled “Crash of 1929”. It too had an upward turn at roughly the same time in the cycle. And indeed, not only that line, but the other lines also had periods of upward trends before the overall trend assumed it’s downward trend.
That said, each economy is different. All we can say is up is better than down, even if up doesn’t necessarily mean we are done with down, yet.
(From The Daily Dish | By Andrew Sullivan (April 02, 2009) – The Markets Are Up)
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