it took nearly a decade for the economies of many great nations to stabilize after the great depression; Since this recession/depression/panic is a carbon copy of the other (1st the Crash of market, several years later came the falling of the financial institutions, due to fraud; and yeah, construction, housing, and auto took a beating even then....)
maybe we should learn from history, and see if we can
A) avoid repeating history's mistakes
b) duplicate what was right
C) determine what is coming and understand the process..
Will we recognise?
Many of the jobs lost are gone forever, but, there will be new jobs created. Hopefully many of those who are unemployed will realize that the job or even the industry they have tomorrow, isn't even probably invented yet, and are keeping their eyes on the future, and with the trends, becoming better educated in those areas..
Hopefully, we will not be building the upside down pyramid again.. or consider sand castles to be structurally sound.. hopefully we can learn from this mess and realize that that boom was just a wet dream.. the gal, like the houses, the jobs, the riches, they never really existed.. they were all a dream, and we made the mess all by ourselves..