I suppose people will believe whichever way they want to believe/hope in....... this 'recovery' that has no true fundamentals behind it....would become the first ever 'smoke and mirrors ' recovery that held its ground in reality ,a self created reality. how much time must pass before that declaration can be proclaimed is for better experts and historians to decide. the great depression had,how many? bear market rallies of some duration, before the depression of 17+ years ended,circa 1949.
in that frame of mind, if the current recession/depression/world economic collapse is .....real..... then this year represents maybe the 2nd inning of the game.
we have a long way to go.