Englishman55: If you speak to the people in the "know" in the UK they are saying similar things, with the same timelines too.
You are right it's not just America who will suffer.
Good post
People are already suffering.
Many more will suffer unemployment before the full effects have run their course.
I suffered a huge financial loss myself for several months as I saw my investments going down the toilet; eventually I rolled up my sleeves, stuck my arm down the toilet and wiggled my hand around until I got hold of some good shit investments.
I've since made up all my loss and gained a lot more. I've been very lucky, but I feel for those who have lost almost everything through no direct fault of their own.
Hope may spring eternal in the human breast, but so many peoples' lives have been devastated it can be terrible for them.
My heart really does go out to them - and I do my best to help people I know who have fallen on hard times and try to get them back on their feet.