Quote:

---

You use the word 'reversion' as though it was an automatic response, as though it was a sure thing. Everything I've read suggests we were very close to slipping into a depression.

---

Reversion: a return to a previous state, practice, or belief.

Quote:

---

So no, I don't buy that things were going turn out all right with no intervention by government.

---

There have been recessions and depressions in the past in which a federal tax never even existed and no bailout occured. i.e. The Long Depression.