I disagree. Europe and the US will not allow the economy to go into a recession, let alone a depression. It's too easy to issue stimulus without giving thought to what happens to the dollar and Euro. The next depression will be a collapse and it is coming unless we find some fiscal sense in a hurry. We are literally doing to ourselves what we forced the Soviet Union to do before they collapsed and China is just sitting in the corner watching and waiting to take our place as the world super power. Whether that be tomorrow or decades away is the only question. Free money isn't free. The second round of stimulus was completely avoidable along with hundreds of thousands of deaths. The PPP money should have been limited to restaurants, theatres, sports teams, airlines and everything in the travel industry or requires a crowd. Everyone else didn't need it because we should have had the borders closed up in early February, had widespread free testing and contact tracing in place. We should have seen the surges coming through the pneumonia and flu tracking programs and we should have shut those cities down for a few weeks and issued stimulus to them accordingly. We should have had enough PPP and masks in reserve that we did not allow this to run rampant through the healthcare system and we should have been able to issue a national mask mandate and closed down schools right away. We should have had federal leadership encouraging everyone to pull together and we should have been treating this as an opportunity to pull the country together and rally like we were fighting a war. Had we done these things then we would have been able to all but eliminate the virus before it ever got started and saved the country from massive stimulus and the economy from getting shredded. This is not a case of hindsight, it is a case of EXACTLY WHAT WE PREPARED FOR OVER THE LAST 4 DECADES. It was all laid out in the pandemic playbook. Unfortunately the only countries that used our playbook were Asian countries and it is not forgiveable.