The economic and financial crisis has been unfolding for over a year now and there are many opinions about when things will turn around. Some feel that it will turn around in 2H 09 or in 2010. I am not sure if this is their own opinion or what they read and hear in the mainstream media, however, be weary of the mainstream media.
Personally I think that this crisis will take anywhere from 10 to 25 years before we see any up trend. Now it depends on when people think the down turn started, if you figure it started in 2001 then best case for a turn around is 2011, if you think it started 2005 then best case 2015. However, it could drag on to 2026 to 2030.
If anyone thinks otherwise, then good luck! My advice to people would be to live way below your means, stay out of debt and if you have any income; save, save, save!
Currently real inflation is double digits, real unemployment is double digits and I expect at least 15% of established businesses – from small to large – to fail this year.
As an aside; In the last depression one of the biggest sellers was spam, guess what! Yes it is one of the biggest sellers again and the factory cannot keep up with demand.
spam in demand
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