I would suspect now is the time for innovation and for smart people to reconfigure how they work.
Reuters: "Great Recession" seen lasting 3 years, experts say
Holly Etlin, a managing director at AlixPartners with 30 years of experience in restructuring, said financial distress will last three to five years due to a lack of liquidity in credit markets and lack of debtor-in-possession financing, or DIP loans, used by bankrupt companies to reorganize operations.
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I'd take this predication with a grain of salt since the guy writing it has a stake in things falling apart. But even if you accept this premise and deduct half it's still an ugly ugly scenario. One good thing that might come from all of this will be a much tougher look at impending "bubble type" booms.
"I'd take this predication with a grain of salt since the guy writing it has a stake in things falling apart." - I think there is a lot of this type of reporting on the economic crisis. Doom and gloom is popular and needs to be looked at objectively
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