Commodity prices? What can I say, oil's going to $125, where hopefully people will drill enough to find more, or we will switch to the much more abundant natural gas, which is why I like that group so much. The other commodity pressures are political. That's ethanol. Maybe a new regime will realize that, but this one's so awful about ethanol I can't bear it.

But three, four and five are changing a tad, which means that the rate of rate of change of the declines in housing and brokerage may be slowing. Or in non-calculus: Things aren't getting as bad as fast as they were.

In six more months the bulk of the resets of the heinous 2-and-28 mortgages -- encouraged if not pushed by Greenspan and Bernanke -- will have run their course. The maximum bulge of horrible resets starts right now, the second through fourth quarters of 2006, the housing peak. It's the worst part. But then it is over.

That matters. Because these resets are either causing people not to spend or they are causing people to abandon their homes. Both add to a recession, and the latter brings down the housing prices around the home, causing deflation.

In the last 48 hours though, we have seen a 75-basis-point cut in short rates, a deal reached where Fannie Mae (NYSE: FNM) (Cramer's Take) can start lending and buying its own bonds back, and a dramatic decline in housing starts, again. Fewer homes, more abundant credit, at lower rates: That's how you attack the crisis head-on, and it is being done. I can't emphasize enough how important it is to get Fannie Mae to help lower rates as its mortgage paper is what's trading so crazily and keeping rates high. When you think that the facility that allows banks to swap bad bonds for cash for 28 days, you can see that the non-Treasury side of the ledger just got a lot better.

If you couple those positives with the idea that when, not if, banks fail we just call up a bigger, better bank and tell them they don't have to pay up for the equity and the Fed will practically guarantee the transaction's profits, we know that the systemic risk is now taken off the table for all but a collapse of Citigroup (NYSE: C) (Cramer's Take), which is, unfortunately, still too big to fail.

All of these problems are going to linger. All of these problems haven't vanished. But all of them didn't get worse lately, in fact they got a little better.

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Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. At the time of publication, Cramer had no positions in the stocks mentioned.