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Certainly have a lot of economic issues at the current time, but we aren't in a global recession, let alone a depression. We are consistantly hitting (subdued) growth, but growth nonetheless. Point to an extended period of global history where we didn't have similar issues?

Exactly right. As always, look at the reality. If prices dropped to x range, how much increased demand would emerge to compete with the affordable prices. For prices to sustain a depressed level indefinitely, demand would need to suppressed by a critical event/s.