Yep, we will be. I am full of joy and cheer today. I know that I am preaching to the choir here. I posted this example of my verbal diarrhea on the other site this morning. Older I get, less nice I become.
On the second reading, I cannot say that I disagree with myself (is it too early to drink yet?).
If you never had to take 2 pieces of plain bread for a sandwich to school every day as a kid, and ate it with the water from the water fountain, you do not know what recession really is. When a piece of bread rubbed with fresh garlic that you grew yourself is considered a desert and a treat, you do not know what recession is. But we and our kids will get to experience it firsthand.
Study the 90's post-USSR republics, with the double digit inflation, hundreds of thousands of people starving, Western companies sucking it dry (on the other side of that $50 surplus SKS was a poor schlob who had not been paid his salary for a year, and sold a warehouse full of SKS for $5 a piece, with his boss taking most of the money).
This is what we are in for, with a couple of minor changes.
Triple the number of people dying from starvation (no one in US has a garden anymore), add in people being shot while trying to steal food from those with the gardens (almost no civilian owned guns in post-USSR in the 90s, otherwise it would have been the same there). Replace Western companies with Mexican, Chinese, Russian, Indian and Brazilian companies buying up the US assets and sucking the US dry.
US is not in the Book of Revelation. Ever wondered why? We did ourselves in, with incessant wars of our own making, unbridled currency printing, and "me first, screw everyone else" attitude.
PS .Gov will try to keep the social handouts going for as long as it can, to keep the mass violence down. It will not last long, and will stop, once the rest of the world abandons the USD as the reserve currency.