Agreed, but I bet the masses still believes we're in recovery, because that's what the news media have them believe. Look at all the 'recovery' headlines on the major financial news portals and you'll see.

Geithner Sees Evidence of a Financial Recovery http://www.nytimes.com/2009/07/17/business/economy/17geithne...

Summers Says U.S. ‘Close to a Level Path’ to Recovery http://www.bloomberg.com/apps/news?pid=20601103&sid=antm...

Fed's Hoenig says U.S. recovery to be very slow http://www.reuters.com/article/ousiv/idUSTRE56D6CK20090714