When this deflationary period ends around 2022-25, economists will finally admit that it was a depression.
The PTB have done their best to hide it and ameliorate it, and have actually done fairly well so far. Soon the weakest dominoes will fall and contagion will be the watchword of the day.
Remember the talk from 15 years ago about the US economy being like a supertanker with a lot of momentum in its current direction?
That applies now as well. 7-9 years to go, how bad will it get? No one knows.
The supertanker is dead in the water...