Originally Posted by Jimnik
Yes, we would go into deep economic recession, possibly even depression (> 10% GDP loss). That's exactly what should have happened three years ago and if it had we'd probably be on the road to recovery right now. Instead the old system is kept alive, throwing endless money at it and not making any necessary changes.
yeah... since 2008, we just have seen revised economic strategies that are simply revised again within a short space in time... it is the classic 'L' shaped recession... unnecessary, extended pain...
edit: btw, i am also hoping for some default action, but mostly because i am fan of a bit of chaos...