The Worst Is Over?

Joe Weisenthal names economists jumping on the 'green shoots' bandwagon:

Joseph Stiglitz, one of the strongest critics of current economic policy, said at an event in China that: "There are distinct signs of a recovery in the U.S. economy, parts of Europe and elsewhere. There is a definite sense that the worst is over." Throw in Greenspan, Shiller, Soros, Roubini (to some extent) and you've got a little trend in the works.

Barry Ritholtz downplays Greenspan's housing bottom call and Roubini's team gauges where we stand globally:

Many commentators are suggesting that the recent data from the manufacturing, housing market, labor markets suggest that the ‘green shoots’ of an economic recovery are blossoming. While there do seem to be some signs of improvement, ie that the pace of contraction has slowed, the most recent data may still suggest that the global economic contraction is still in full swing with a very severe, a deep and protracted U-shaped recession.