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I think we've all been pessimistic for awhile now. We are so sensitive to even the faintest sniff of another recession that we'll either a) go through a way more mild version of what we thought which will finally instill more confidence in the market or b) we will all collectively freak out as soon as there's a potential for a recession and as a result put our stupid selves in an actual recession.
When you realise the only thing holding up the US dollar is the petrodollar system, and the fact the Euro is on the brink of collapse, then I'd be pretty pessimistic too. I've already sold all my shares and put my money in gold; shit ain't looking too pretty (which sucks considering job prospects in finance will be virtually non-existent...).
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