We've had three economic recessions during the past 11 years, but our built-in stabilizers and buffers have worked rather well. Though we can't be certain, it looks as though another catastrophic depression such as that of the 1930's is unlikely to re-occur in the years ahead.
Fox, Karl A.
"Do We Have Depressions Licked?,"
Iowa Farm Science: Vol. 14
, Article 2.
Available at: http://lib.dr.iastate.edu/farmscience/vol14/iss1/2