Call in the Calvary we now have another victim of the Global meltdown, Japan the worlds second largest economy is now in recession.
This news is not surprising but it gives us cause for concern, i am starting to wonder if there is anyway way out of this recession.
We see our world leaders running around Washington, slamming big bonuses and corperate greed all the while before this crisis came about these same world leaders were happy to allow these Bankers to lend sub prime mortgages to people who cannot possibly pay them back.
These are uncertain times, we have in the USA a president with one foot out the door along with unemployment in the UK projected to reach 3 Million by 2010. I honestly doubt the capacity of our current crop of leaders to deal with this crisis effectively.
The simple fact is the boom times we have all enjoyed for the past decade is now over, so we as a collective people must now tighten our belts and realise that this recession will be long and tough, it will certainly be a very dull, cold winter this year.
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