It seems to me that the negatives are being over emphasized by the media in this economic slide. I watch the stock market closely and have noticed stock pages like globeinvestor and stockhouse have virtually nothing positive in their headlines day in and day out. I realize this is a down time and they need to report on that but I think they overdo it. A month or two ago the TSX(in Canada) rallied from being down to around 7500 to over 9000...not a word about it in the headliines, it went completely unnoticed, or at least unreported.
Lots of people are out of work, I wonder how much of that is due to the impression (given by the media) that times will get tougher so companies better cut to the bone and be ready?
Generally I don't think the media knows what is going to happen, if they did they might have predicted the situation we are in now but I can't say I remember reading about this anywhere.
I think things will turn around sooner than later, once there is a ray of hope to grasp onto, and provided the media gives it the same attention it does the doom and gloom then we will round the corner. Personally, I think the recovery will be rapid once it starts.