Disillusioned
We are in the grip of the worst economic crisis since the 1930s. Though Mr Doom, Mr Nouriel Roubini, had warned us back in December 2006 that a crisis was looming, it was only after the collapse of the Lehman Brothers bank last September and the ensuing stock market crash that it dawned on us that we had more on our hands than just another irrational exuberance of the capital market manifested by the bursting of yet another bubble. This one, unfortunately, was gradually morphing into a severe global recession. As the crisis continues unabated, one thing is becoming clear, we are the witnesses of a reality that is repeatedly debunking our prognoses as being either too worst or all too optimistic. Some believe that the economy could fall back into step more quickly than predicted and they see inflation as a much greater threat. Others are predicting that the worst is yet to come; we are just at the beginning of the global freefall and we don't really know when we are going to hit rock bottom and once we reach it, how long the global economy will lie there.
