Things will get better. I'm thinking it will be sooner than later. Even in better times, there will always be some airline that tries to undercut the competition in part by offering lower wages to the more motivated (ie: desperate) pilots.

The way to deal with this is not to attack the pilots who take those jobs but to help your company do better than those companies. Then fight for what you deserve. At times it seems unlikely that the purchasers of contract services care about anything but cost. I think we'll soon see that quality can be rewarded. By the time this trough finally shakes out there will be fewer contractors than there were. As things begin to improve, new contractors will pop up. Some will make it and some won't. All I can do is to try to do the best job I can every day.