There's another fallacy at work here as well; one that is not recognized by many. An astute FR member stated that this is not a normal bear market caused by the usual "exuberance". A MASSIVE expansion of leveraged debt-fueled consumption has created a virtual financial Black Hole which no amount of fiat money can fill. Coupled with your observation that Obama has no intention of letting the situation correct itself leaves one to expect a massive deflation that may well change our lives for generations.
Exactly. This is not a normal recession. It is far beyond that. We have been expanding since 1983. We had a 7 year commodities/stock market/real estate mania that ended in 2008 that was fueled by Alan Greenspoon's easy money policies. Wall Street took a derivatives wrecking ball to our financial system
We are in a deep hole
Climbing out of it will mean real work in a real economy
Not one goosed by flipping houses, by whipping out credit cards and buying retail stuff made in China
This is not a normal business cycle kind of recession.
Even Warren Buffet knows that and may or may not say it