we are going to bounce along where we are now for a few years.. We (companies, govts, individuals) owe far too much Our assets - houses, shares - even with recent recovery - etc are about 30% of peak in a low inflation environment this will take years to get back to where we were even nominally - in real terms the values were mad anyway Of course astute and lucky individuals and companies will do well but overall it will be a long hard grind, although I don't 'think' we'll see massive collapses Public spending will be slashed one way or the other and that will be painful for the sector of the economy that hasn't felt the recession yet - the Public Sector. Unemployment will rise and relatively soon interest rates will have to rise as there will be huge pressure on our finances as that astute master of the Universe Gordon didn't put anything away for a rainy day during the massive boom of the past few years but spent it all, much on false jobs for labour voters