The 2007 shortage was huge and the academies could barely keep up with 250 hour pilots getting hired left and right. This all came crashing down with the recession and 65. I think once the economy starts its turn and 65 gears up again, there will be a shortage. I believe it will be short lived however. How long does it take the old pilot puppy mills and new ones to start to fire up again? then how long does it take them to put out a product, and interview passable pilot? That is how long the "Shortage" will last, unless ATP mins are passed by congress. I doubt they will. It is congress, they don't work for the people, it's the lobbyists that have their ear.
The next thing you do if you don't have enough pilots is put more passengers in each plane. Ala CRJ900 and E-190's for regional stuff. They seem to be doing a good job at increasing the amount of passengers that we fly around without increasing our pay, and they love it. If regional pilots start to cost too much, we either undercut each other or Mainline does the flying. Once Mainline takes back its jobs, Demand for regional pilots goes away, hence the end of a shortage.
Sorry it doesn't flow well just thinking and typing