Economic recovery not coming any time soon.

[moneysense]

According to those in the know, the economy is not going to even begin to recover until late 2009 into 2010.

When the Fed did its survey, they had this to say.

National economic conditions deteriorated further ... with only a few sectors such as basic food production and pharmaceuticals appearing to be exceptions

The economy became even weaker during January and February of this year, and there is no end in sight with the estimates of recovery being just that, estimates.

When you take into consideration the fact that 8M more jobs are expected to be lost in 2009, any recovery before 2010 seems like a really optimistic estimation.

My question would be, where are over 12M jobs going to be found at the end of 2009 for every one who has been or will be laid off by then? And without jobs, spending is cut, and without spending, businesses suffer and shut down, and again layoffs. So it is basically just a big never ending circle of problems.