How quickly things change. It seems that only a few weeks ago, everyone still thought that economic growth would continue indefinitely—a pie growing perpetually larger. The only struggle was over who’d get the bigger share of the rising income—as President John F. Kennedy once said, “A rising tide lifts all boats.”
 
Rise to the occasion
 
Now it seems the tide is moving only one way—out. This view of course is as unrealistic as the one that preceded it. Just as the boom years had to end, so too will the current downturn give way ...