first it was a "slowdown" ... now it is a "downturn" ... next i think will be "turnaround"
When Obama takes office, and in the first half of next year... the mainstream media will be telling us that the economy is turning around or we are in a "turnaround" phase. They'll say that we are coming out of a recession. The market i think will be a bit higher, (maybe around 10,000 or 11,000 on the DOW)... some new phony government numbers will show that the economy is recovering, Obama will be creating new jobs and bailing out main st., sending out stimulus checks, etc.... this will all be the big "turnaround".
After the "turnaround" phase... it will be the "currency crisis" or "dollar devaluation" phase.... at which point, everyone realizes that the economy never turned around or got better, and things are still getting worse.
i also think that the media will use all sorts of analogies to explain why a "turnaround" may be slow, or why it will take a long time to turn around to be fully facing the other direction. They'll say... "the US economy is not like a F16 fighter jet that can turn on a dime... it's a fully loaded 757. Obama is the pilot and he started turning the plane around on a big arching curve". Or maybe references to a big boat... and having Obama turn the wheel over and over again, and eventually, the ship will start it's big arching turn, and will finally be facing the right direction once the turn is complete. but they'll say... "the key is... he's turned the wheel, and the turn has begun... and now it's only a matter of time before the ship is back on course". And Peter Schiff will be writing that Obama is turning the ship in the wrong direction, right into an iceberg or over a waterfall or something that will collapse the currency.