Monetary Indicators give some hope?

The economy has fallen off a cliff, but there are at least some hopeful indications that we might not have too much further to fall. Both Calculated Risk and Econbrowser have posted graphs indicating that the severe credit crunch evident during September has eased, and while the indicators haven't gone back to normal, they are at least out of the panic zone.

In addition to those, both monetary indicators I have been tracking now point to recovery.