Is DRAM set for a rebound?

To take a brief tangent, does anybody seriously believe that the world economy will recover in the second half of this year? This seems to be one of those polite fictions that everyone's using right now, one that we all know is code for something worse, like the way that an analyst rating of "hold" really means "dump this stock immediately!" or a "B" grade in most liberal arts programs is really a "D". I can't wait for the second half of '09 to get here, because I'm tired of hearing this phrase repeated and I welcome a new consensus euphemism for "whenever the recovery happens."

Anyway, back on the topic of DRAM prices, the current wave of supply destruction will have to boost prices eventually, and if the destruction is severe enough, this will happen well in advance of any kind of recovery in demand. In the meantime, I'm going to sit back and wait for another bankruptcy or two.