Mark D Nicholls asks the question, points to evidential resources, and suggests actions for moving forward whatever the answer may be.

Are we at the bottom of the cycle yet? Nobody seems to know for sure. But there are really only three different scenarios that may occur. Economic conditions improve, worsen or stay the same. But even if we are at the bottom ofthe cycle, then history suggests that we are unlikely to go straight up again. I have never known a recovery to bounce off the bottom. So this leaves either more downward movement, or things staying largely the same.