Terrible times should produce great art. No evidence of that yet unless bitching counts.
Where in the world did you get that romantic notion? Sometimes they do and sometimes they don't.
Please offer your examples. Then we play.
You said that they "should". Who says they "should"? I think that is a romantic notion. If you don't that's OK but is respectfully disagree. I don't think anything like this falls into the area of "should". As for an example; I think these are terrible times; war, income inequality, global warming etc. etc. You said there isn't great art being produced. Unless you don't think these are terrible times I'd say we agree on the substance of the matter.