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The IMF just predicted the worst depression since the great one. What is your opinion?
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ToolGuy 9 Apr 12
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Almost certain to happen, for various reasons.

People have discovered (rediscovered?) that they don't have to spend, spend, spend. Apart from anything else, many credit cards will be maxed out.

People have discovered that many jobs do not require commuting to an office every day, thereby leading to fewer fringe employments like snack bars and fuel stations.

People have been learning not to be so "throw away".

People have been rediscovering old skills, from baking to dress making,

Corporations will take advantage of this compulsory lay off to trim work forces of their "less productive" employees without any penalties.

Then there are all the usual economic reasons, beloved of economists, as in the article.

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I forsee both major boom & bust as there will be a pent-up need to SPEND, as we have been conditioned to do. Howeve steeply rising debt may be created, as we have also been conditioned to tolerate/embrace.
Interesting times ! I wish I still had the entrepreneurial spirit of my younger days, I would order that great big yacht now!

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