Nearing The Bottom?

Ryan Avent, back at his old digs after Portfolio's closure, thinks there is reason to be hopeful about the economy:

Threats remain. Any unforseen shock could get things deteriorating again (and there’s an outside chance that a flu pandemic could be such a shock). It’s also true that a bottom does not mean an end to pain. Recovery will take a long time, and unemployment will remain high well into recovery. But we are nearing a bottom, which is a very, very good thing. There are still a lot of people out there spinning narratives of utter hopelessness, and that strikes me as completely out of step with the changing situation on the ground.