Richard A. Posner, appointed by Reagan to the US 7th Circuit Court of Appeals, in The New Republic:
If the notion that we are merely living through the aftereffects of a mere “recession” that ended in 2009 sounds somewhat ridiculous, that’s because it is. If we were being honest with ourselves, we would call this a depression. That would certainly better convey both the severity of our problems, and the fact that those problems have no evident solutions.
And he admits, here, that he doesn't know what to do about it, either.
The issue has been bothering him for some time, as evidenced here.
