Nah, post WW1 Germany took place because of the insane punitive measures the French imposed on the German economy. Trying to imagine that the same would happen here, even though the distorting and limiting factors on our economic fundamentals had been *reduced seems like a nonstarter.

/tangent
This is a bit tangential, but while we are talking about WWW1-WW2, its worth noting that when discussing military interventionism and adventurism WW2 is often brought up. (Not particularly directed at you sinij since you aren't a military interventionist afaik) Interventionists often ask non-interventionists "yes but what about WW2, we had to fight that didnt we?". And the answer is always "well, yes but WW2 was different" sometimes its pointed out we were attacked etc.

The truth is, we were obligated morally to fight WW2 because we basically caused it with our inane, unnecessary and unwarranted involvement in WW1. For no particularly good reason, we injected ourselves into WW1, which unlike WW2 *was just another example of European political stupidity - and handed the Brits and French a victory at great cost to ourselves. The results of this meddling was the French punishing the everlasting shit out of the Germans, leading to the downfall of the Wiemar Republic and the continual state of Mideast strife that is the result of the Brits breakup and partition of the Ottoman Empire - and they were likely insane with their handling of that quite deliberately to ensure that strife would keep the former Ottoman areas weak for the foreseeable future. We are still, as the now preeminent Western power, dealing with the blowback from that to this day.
/end tangent


Recessions happen all the time, the one experienced from turning the flow of ill-created Fed bloat off would not likely be particularly harsh or long. It would be a simple occurrence of a process of adjustment. Overall productivity and value would go up, simply because the burden on the economy overall would be lessened.

If you want to talk about "when has this occurred" - well, its the natural state of things during any time where massively boneheaded govt interventions arent manifesting themselves in the form of thing like the Great Depression, or the recent Great Recession. Typically, in most times in most places, things improve where the govt is not committing some colossal blunders. There are always anomalies and quirks, but the type of govt interventionism we have that we are talking about reducing has never in any way been shown to smooth out those quirks - so there should be no reason to keep them.


For who could be free when every other man's humour might domineer over him? - John Locke (2nd Treatise, sect 57)