Thanks for taking my words out of context. I never said that the recession will end quickly. I said that there was a possibility.
And when you say that "this is going to last 5-7 more years", I hope you're not referring to the recession. Recessions never last that long, unless go back to the great depression, in which case you're suggesting that we're entering into a depression.
Sorry, I don't think I was taking your words out of context. I understood that it was your opinion that there was a chance
that the recession would end next year, but I'm still trying to understand why
you think that it's a possibility.
And yes, I would say that this is either going to be the worst recession in history, or another depression (more likely). If you take into consideration the high amount of mortgages that have not yet even begun to reset plus
those who are losing their jobs, then we're looking at another few years of this unless
of course all these people are able to get out of their loans and get fabulous new gigs before the shit hits the fan for them. I'm cynical and don't see that happening with any immediacy.