Believing we are NOT in a depression in the current situation is like believing it is NOT winter because you have heat in your house.
There is an old story I used to hear long ago in the South. You must understand that this goes back to when it was common for families to butcher their own meat and they only wanted to do this on a clear, cold day so that they had natural refrigeration while cutting up meat outside. It went like this.
When the first cars were being fitted with factory air conditioning a well to do fellow was driving alone in his new Cadillac in mid-July with the air going full blast. Spotting a farmer walking he stopped and offered him a ride. The farmer was very grateful and asked to be taken to the next town five miles away. After going two miles the farmer suddently asked the driver to stop and let him out. The driver was confused and asked what was the matter. The farmer replied, “Since it has turned so cold all of a sudden I think I will go back home and kill a hog.”
Those who think we are doing OK now are as confused as that farmer.