I do not know where you were in the 70's or 80's.
In the 70's the people leaving Seattle because of a severe recession in Boeing's business were all saying - 'Last one to leave Seattle - Turn off the Lights" - We did have a recession in '73-75. One of the reasons Ford did not win against the Peanut Farmer.
In the '80's if you recollect all of the facts, The FEDERAL G'ment bailed out Chrysler - at the time it was run by a former Ford Executive, by many, remembered for the Ford Mustang or the Chrysler Minivan.
In Texas the Oil industry died = similar to Seattle's Boeing issues Ten years earlier.
We did have a recession and a stock market crash.
All I am saying is that we can have stellar growth - but only after the system has been cleansed
It depends on where you start the timeline.
Like with global warming. The believers like to start in the temperature valley of the 70/80s, so looking up the mountain that became the late 90s/early 2000s showed them what they wanted to see. Huge rise in temperatures. Had they looked from the OTHER mountain, the 1930s, or the slightly smaller one of the 1950s (two warm decades) they’d have seen the late 90s as comparable.
Same thing economically. Boom or bust depends on where you start.
History does repeat itself, but NEVER in the same precise way.
Historically, the election of Trump with the tax cut and deregulation should start winding things UP, not down.
Time will tell, FRiend!