Ok... fair enough... given that I never said we were close to the great depression. I stated I would not call this a 'moderate' recession. As I also stated, I agree the numbers are staggering. China has already called for a new reserve currrency... which is odd given that their US treasury holdings would tank if that were to happen.
I was trying to make a point without getting marred in details. Yes this is a long recession. I agree. but its not that far off of a normal market cycle and perfectly normal as a correction to an artificially inflated economy.