Why so serious?

I've been reading some of the output of Mises.org, a school of economics that adheres to the 'Austrian School', which makes a lot more intuitive sense to me than some competing models. Anyway, a recent article had this to say:

To solve a problem caused by malinvestments resulting from easy credit at 1 percent interest rates, the Fed is supplying even more easy money at 0.25 percent. None of the malinvestments have been allowed to be liquidated.

Housing prices have been propped up, banks and auto companies have been bailed out, regulations have been increased, debt covenants have been violated, unemployment insurance has been extended. In addition, there's the cap-and-trade bill, the healthcare bill, and a "czar" around every corner.

All of these increase the already-humongous burden on wealth creators. In short, the problems that caused the Great Recession have been compounded. Real output must then necessarily decline. How can anyone logically assert that we are in the beginning of a recovery?

I am less than sanguine regarding the immediate future. And that quote summarizes why pretty nicely.