The Great Unknown

As a brutal 2008 draws to a close, thoughts turn toward the year ahead, with talk dominated by words such as ‘recession,’ ‘depression,’ ‘deleveraging,’ and ‘deflation.’ And one more: ‘bottom.’ Everyone wants to know when the nation will hit it and, thus, when the recovery will begin. The answer to that question lies mainly in the size and nature of future stimulus efforts and in restoration of that all-important commodity known as consumer confidence. In short, no one knows!