So let's look on the brighter side. Inflation is falling. Lower inflation spells higher wealth. This is absolutely key. From the standpoint of the long run, it is far more important than all those GDP flows.
Inflation is the cruelest tax of all.
It reduces the value of everyone's money and buying power. It lowers rewards for risk-taking and returns on investment. Broad inflation measures corroborate market price indicators. So, the inflation tax is falling. That is, the tax on money, wages, savings, investment, wealth and risk-taking is falling.