Not my term, but that of Sequoia Capital, a premier venture capitalist company with perspicacious and prescient management, free of illusions.
Inside Details of Sequoia Capital’s Doomsday Meeting With its Companies
They are predicting a fifteen year recession... In other words a depression, one that will rival the Great Depression and the economic turmoil of the 19th century.
One of the key components of this depression? Significant excess productive capacity. We are too wealthy, therefore the capitalist class must impoverish us all until they can make it profitable for them to put ordinary people to work.
There are no physical factors that are causing us to be impoverished. We haven't lost people. We haven't lost productive capabilities; indeed according to the capitalists themselves we have "too much" productive capability, thus driving prices down below profitability.
This depression is a failure only of imagination and will; there is no physical reason we cannot simply think our way out of it.