I've lived through two economic periods much worse than this one, personally, and statistically. The double dip recession in Reagan's early years was very painful, stagflation, interest rates well over 12%, high unemployment, and then of course 2008-9. I can believe the economy in certain areas is bad today, certain regions and industries, but not generally. Where we're headed could indeed be bad of course. The Fed acted too late IMHO and is going at it now to make up for lost time.