What next?

[CBR]

You expected Obama to fix the world in a few months? No one could do that.

It is just a recession. We have had them before and without doubt will see more in the future so it is not the end of the world.


CBR

[edyzmedieval]

You expected Obama to fix the world in a few months? No one could do that.

It is just a recession. We have had them before and without doubt will see more in the future so it is not the end of the world.


CBR

Of course nobody could do it in a couple of months, it's just that it went worse when it actually should have stalled or only experienced a mild slowdown.

[CBR]

Of course nobody could do it in a couple of months, it's just that it went worse when it actually should have stalled or only experienced a mild slowdown.

Maybe some thought it should have stalled. I know some said several months ago that 2009 will be the year we feel it the most, as it was only in late 2008 it finally went downhill. IIRC some are even saying the US unemployment numbers for May was not as bad as it could have been so maybe it already is stalling.

Recessions don't go away in a few months so I see no reason to be all that gloomy. For those who lose a job it is bad of course.


CBR

[Meneldil]

Outcomes:

a - A new world war
b - The end of civilization as we know it
c - Nothing happens, we go through it, complain a bit, burn some stuffs during a few riots, and that's about it.

I'd be more interested in outcome b, but I think c is much more likely. The real question is, will Europe and the US keep their rank after the crisis, or are they doomed to become second rate players ?