"Worst is over seems" to be the new orthodoxy.
Maybe it's a relative thing; the worst being relatively more over in the UK than in the US.
Still made my day in a sick sort of way.
"America’s Great Depression/ Fifth Edition / Murray N. Rothbard"
By early 1930, people were generally convinced that there was little to worry about. Hoover’s decisive actions on so many fronts—wages, construction, public works, farm supports, etc., indicated to the public that this time swift national planning would turn the tide quickly. Farm prices then seemed to be recovering, and unemployment had not yet reached catastrophic pro-
portions, averaging less than 9 percent of the labor force in 1930. Such leaders as Hoover, William Green, and Charles Schwab issued buoyantly optimistic statements about early recovery, and Hoover was hailed on all sides as a great statesman. At the end of
June, Hoover urged further state and city action to expand public works and thus cure unemployment, and on July 3rd, Congress authorized the expenditure of a giant $915 million public works program, including a Hoover Dam on the Colorado River."
But then...