Thanks for the response. I'm going to watch some David The Good now, trying to disconnect my potato supply from GDP 😉

No flippin' way. The sheer amount of malinvestment is so immense at this point that it will take the better part of a DECADE to undo the damage done by 50 years of Federal Reserve malfeasance and the Greenspan-Bernanke-Yellen Puts that have completely screwed up risk quantification in the financial markets.

We're talking about undoing fifty years of manipulation of the housing markets, and that alone will inflict colossal economic pain. And that's before we get to unwinding all of the risky bets made by banks and corporations in an era of absurdly low interest rates.

The only time in the last hundred or so years that we've had an extremely short and sharp recession that allowed the US economy to bounce back really fast was in the wake of WWI, with the six-month recession of 1920-21. That was about all it took to undo the damage inflicted by the price and rate controls of the Wilson (Mal)Administration in WWI.

But the economic damage inflicted by so many decades of economic mismanagement is going to take much longer to undo.