When we went through the Great Recession of 2008/2009, I remember thinking to myself (perhaps consoling myself) that I would never see an economic downturn as bad as that ever again in my lifetime. I mean, the scale of the trouble at the time was such that multiple markets around the world, multiple sectors, multiple categories, all got hit at once, and the resultant economic malaise took years to overcome. Surely, something at that scale could never happen again?

Well, never say never, I guess.