We need to define "recovery."

If "recovery" means that worth-less cash has flooded the marketplace, and that the worth-less cash has provided money today (which must be paid back in the future at interest by e veryone) to bail people and businesses from bad decisions, then "recovery" is happening.

If "recovery" means we have corrected the problems which created the fiscal fear (terrible balance of payments, Communist-made goods flooding the market and sold at "dumping" prices, federally-backed home loans to people who could never afford to make the payments unless all conditions are perfect), then we are far from even coming close to recovery.

Without a fix to the conditions which created the mess, the mess will reoccur.