Well, we could recover alright if the governments would stop trying to bail out political friends and let them die peacefully. Use the money to keep the strong going.
I know I am sad, was looking at buying a Chevy Volt when they came out. But will not buy a car from the Government Motor Company. It is not their job to have 60% stock in a company. So have to wait to see if they get bought back out, but since they put in the board members I doubt that will happen.
As for private companies getting into space. It should be possible, we have a few with pockets deep anough looking at it. They have to also weight the ways to make it pay first. Just building the stuff isn't anough for private companies, they need a way to try and get the money back, unlike Governments.