No one, even The One, can put him back together again.
The economy is on death row, and we are just waiting for the footsteps to come down the hallway.
We haven't seen the crash of Alt-A loans yet. The real layoffs haven't even started yet. Owners of commercial real estate wont be able to refinance because they are upside down on their properties. State and local governments will start to go bankrupt. A surge of new taxes will cause consumers to buy even less. Despite low mortgage rates housing will not recover because so many borrowers will no longer be able to qualify. You are right, the footsteps are close. 2009 will be a much worse year than 2008.