I'm glad all this stuff is out there. I especially like the L shaped recovery and the eye of the hurricane analogy. I think it's a bunch of hockum, of course.

What happened in 2008 was a financial crisis brought about by lessee faire capitalism and an incompetent central banker & administration. Historically, recoveries from financial crisies are sluggish, and this one is no exception.

Still, things are actually getting better - not worse. Bush's wars are winding down, the US budget deficit is shrinking fast, California is now in surplus, yields on European bonds - even Greece are dropping, the stock market is making new all-time highs.

I liken the crisis to a major earthquake - one that occurs about every 80 years or so. There will be aftershocks, and it will take time to make a full recovery, but barring major policy errors by Bernanke or the US government, the disaster is in the past.