Our readers who responded to last week’s Quick Poll believe the US economic glass is more than half full—of more bad news to come. Some 68% of the 709 who have so far responded say “Nope—Still More Pain ahead.” A slim 10%, who responded on the side of “You Bet—And I Think I See Activity,” seem to roam in relatively scarce optimistic circles when it comes to viewpoints on the nation’s economy. Even when added to the 21% who voted for “Yep—But Upside Is Still Far Away,” the combined force of their opinions don’t totalhalf the numbers of those who believe who’ve got a still longer row to hoe before things begin to improve. Douglas Herzbrun is global head of research for CB Richard Ellis Investors in Los Angeles, and in this second of a two-part Commentary on the state of the economy, he provides his view of the recession, pointing out that making a call now on the economic bottom is something best done in the future: Here’s why:

“We won’t know until after the fact if we’re in a recession…I think that’s a high probability that that’s going to happen.

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