If he just snapped out of it two years ago, Mr. Root is neither timely nor particularly astute. This has been evident since late 2007 to myself and many others, written about and thoroughly wrangled with on these pages of FR and quite a few others.
The only question remaining is how long can the illusion of near-normalcy be maintained. Longer than many expect is the answer, but the end result will ultimately be the same. If we come out the other end of this inside of a decade, with our currency and nation intact, we should count ourselves lucky, imho.
(It's already longer than I expected)