The blather on television that passes for expert commentary is just amazing. This morning Abby Cohen at Goldman Sachs suggested that 'the government programs are beginning to work.'
Abby, smell the coffee. Markets move according to the Elliott Wave Theory.
The markets have collapsed as a result of one hundred years of inflating the money supply.
The US has near abandoned manufacturing, which if you think about it, is one pursuit that actually creates wealth. Does producing computer games produce real wealth? The result of this paper/service economy based on fiat money is a tidal wave change that is wringing the excess out of the system. This will not get done in 18 months.
The truth is that the markets would have made a bottom if the government had done nothing, which is essentially what they did in terms of a coherent plan quite frankly. Now they are doing the same thing they did since 1972 when the US abandoned the gold standard, inflating the money supply. Will this money supply stave off deflation, we shall see. Can Bernake get us all to start buying and the banks lending?
In the meantime try to keep a perspective. No government can repeal the business cycle. This is what our government is trying to do.
Professor Elam 
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