I mean, we'll jump to 1930s on reflex. But this is a pattern that's repeated itself internationally, from Apartheid South Africa to the juntas in the Pacific Rim to Fascists in Argentina and Chile.
Economy shits itself. Social Democrats come in to deliver milquetoast reforms. The economy recovers somewhat, but never enough to actually relieve the social pressures of the moment. And then the democratic system starts vomiting up radical candidates of all stripes, while bourgeois capital attempts to ride the tiger into the next full recovery and/or national emergency.
The wheel of fortune doesn't always land on Fascism. But it's definitely a possibility.