It is becoming clear to most people that the gluttony that we have enjoyed over the past decade is now leading to a depressing hangover. The following links offer a simple record of the crash.
We will discuss the outlook in upcoming posts. The short version is that business will be hard. jobs will be lost, people will have to cut back to more sustainable levels of consumption. The length of the downturn will depend on how quickly compromises can be reached between lenders and borrowers. The single biggest indicator of recovery will be changing behaviour of everybody – a cultural enlightenment to more integral values.