From Russell's Comments on Sept 15, 2008:

"I ran into an old time broker next door at Morgan Stanley. He waved and shouted, 'This has got to be the bottom.' I didn't like that sentiment. When the real bottom arrives, usually nobody knows it."

Comment:

Too much talk in the press about "fixing things." When talk starts turning to the impossibility of fixing things, we'll know we've got a ways down to go. When talk starts turning to the end of the U.S., our way of life and maybe even civilization, we might be really close. When people start bellieving such talk, we'll be right there. Bull