It could be worse...
Any Labourites feeling miserable about the polls can cheer themselves up by comparing where we are now to where we were exactly 16 years ago on 14 April 1992 when Kinnock resigned.
If my memory is correct of 14 April 1992, as a 20 year old Labour Student I expressed the view we were completely stuffed, nothing would ever be the same now Kinnock was gone, and we Kinnockites had bet the house on moving the party to the centre and still lost the General Election so the left were about to come after us with the political equivalent of chainsaws. I'd spent a thoroughly unpleasant General Election night watching a pretty nasty Tory beat Labour's Doug Naysmith by 45 votes in Bristol North West after several recounts. A month later I was at an even more unpleasant City Council election count where we lost all our safe seats to the Tories. In between I went to a little conclave of LCC activists at the TGWU South West HQ with Neal Lawson, where Roger Berry addressed the subject of "can Labour ever win?"
The newspapers were full of articles asking if Labour was doomed to perpetual opposition. The economy made today's credit crunch look like a tea party, there were 3 million unemployed, public services were underfunded and rubbish, and the PM was John Major who was a national joke whose main policy idea was a "cones hotline" - but he had still beaten us.
Things may be tough but looking back, I'd rather be a Labour activist on 14 April 2008 than on 14 April 1992.
And at least the British political situation isn't as infinitely depressing as this.