The propaganda is the statement that we are in a depression.  We are NOT in a depression, nor a recession and have not been for several years. So, in fact, historians will not at all call this period a depression.<p>More likely, they will look back and wonder why so many people thought things were bad when, by all objective measurements, things were actually quite good.  Low inflation, low commodities prices, decent wage growth, cheap housing, strong stock growth, a huge surplus of investment capital.