I don't get it...

Today, the Times published the opinions of 10 "experts" on the financial crisis, and whether they think it would end. I think pretty much every author hit the right tone of pessimism, but even as they acknowledged that things are bad and not likely to get better soon, many would then add that things are likely to turn around by the end of the year. None that I read called for more stimulus. Instead, they wrote things like this:

Today’s low prices, painful though they may be, are the market’s own shovel-ready stimulus. Before you know it, the stock market, and the residential real-estate market, too, will be on their way back up again — just don’t ask when.

In any event, it looks like the debate about monetary policy is over. (In fact, we already knew this.) Why do we know this? Conservatives continue to ask. Well, the evidence is the f*cking 10 car pile-up right in front of our faces, for all to see, that is the world economy which is simply *not* being ameliorated by monetary policy...

Where to begin? Feb. new car sales now expected to be the worst in some 40 years, even worse than Jan., stocks and housing markets hitting rock bottom day after day, 10% plus unemployment expected by yearend, another 600K-plus job losses, the worst consumer sentiment numbers ever recorded which came out in the past week...

Absent another stimulus, however, I still do not see what is supposed to turn things around...