The American Recovery- A Phony Recovery Valid or invalid? Discuss. Personally, I think they're right. There have been lots of whispers that the last recesion was only a little blip before a huge tsunami, and the current boom is like the calm just before the tidal wave comes crashing down. And I think the people who most rely on their homes financially, namely middle and upper-middle class Americans who don't invest heavily, are going to be hit the hardest by this.