We already have a "long depression" in the history books: https://en.wikipedia.org/wiki/Long_Depression https://en.wikipedia.org/wiki/Long_Depression unemploy

We already have a "long depression" in the history books: https://en.wikipedia.org/wiki/Long_Depression https://en.wikipedia.org/wiki/Long_Depression unemployment stayed low, very slight deflation persisted, and over the 30 years GDP per capita and GDP of the US grew considerably.