What kind of recovery is the market pricing -or- just how much is the market overvalued? pt2

Just two months ago, I published a post quoting Hussman's interesting work about the recovery currently priced in the market's valuation. A couple of weeks ago, they published yet another impressive chart which is still worth to have a look at.

Well, this week, William Hester is publishing yet another set of very informative (and worrying) charts, some of which I am pasting below.

As you can see, not only has there been no recovery at all in any indicator (job losses are still happening at a scary rate, defaults on mortgages and loans as well, commercial real estate is collapsing, along with prime mortgages), but the market is pricing in the sharpest recovery in history, along with profit margins getting back to historical levels within a sluggish but positive GDP growth.