the reason is confidence, when confidence is back to normal,

then multiplier will work again. When people is overconfident, economy will boom again, that is the cycle. Those who do not understand and curse Fed's money printing should think again, if no printing, what would the world look like. Those who want going back to gold, gold can't printed, deflation will be so severe, everybody will lose its job, then everything can restart again, from the basic need of food and water. During this who knows how long restart process, chaos, how many people may die due to no access to food and water?