As said on reddit, the other was coined “The Great Depression.” We start referring to the coming one as “The Bush Depression.” It’ll be one for the history books.
Listening to the radio news this morning, I heard that the US gov did not find 700billion in their piggybank to give away to scrupulous banks who screwed up their economy. Uhoh. Well, we are all in one boat, and if the US goes down, it will affect global economy. In the radio they mentioned the national banks of Belgium and Germany having to react (something like “have to print more money” but I didn’t get it…)
If the bank bubble affects the web2.0 bubble, I may lose my flickr pics and del.icio.us bookmarks, but Knallgrau, the european company hosting this blog is living on company contracts and will probably survice (I hope). Looking forward to the economy next year with mixed feelings – it will probably sort out itself.
If not, look for health packs and ammo on elevated places within the mayhem on the streets.