You can pump all the blood you want into a zombie, but it's still a zombie
My read is the only thing standing between you and an ordinary cyclical recession — including a 20-30% drop in the SPX — is monetary policy. The impact of QE and the FOMC mortgage backed purchases has kept the economy from a full blown recession — but only just barely. Indeed, the data we have seen this week strongly suggests that but for the juiced Housing market — artificially propped up by unprecedented low interest rates — the US would already be in a recession.
Forward with the Obama!
And, needless to say, for the Obama. Just like 2008. Everybody pulling for the guy, events conspiring in his favor, and he can barely grind out a win.
Anyhow, the economy won't collapse 'til after the election, if then, so eat, drink, and be merry!