Found a few articles which are quite gloomy:
and this one:And you thought that I had a gloomy outlook on the economy. Now the bad news pops up everywhere.
Harry Koza in the Globe and Mail quotes Bernard Connelly, the global strategist at Banque AIG in London, who claims that the likelihood of a Great Depression is growing by the day.
Martin Wolf, celebrated columnist of the U.K.-based Financial Times, cites Dr. Nouriel Roubini of the New York University's Stern School of Business, who, in 12 steps, outlines how the losses of the American financial system will grow to more than $1 trillion - that's one million times $1 million. That amount is equal to all the assets of all American banks.
If all these became true, how can we profit from it? Which industries would prosper and which ones would wither? Where would people spend money on? etc etcTHE economy is headed for recession next year, with a 50 per cent plunge in share values and a double-digit drop in house prices.
has anyone thought of these questions and got good answers?