@Mizuki: ”It does not matter what you and I believe. I hope I am wrong, prepare for the worst, hope for the best.”
Well, I agree with you there. However, I can’t decide what worst and best is. An 19th or pre-1950 20th century style economy doesn’t sound very appealing. In any case, that couldn’t happen, because technology has advanced so far since then.
On the other hand, the advertising dystopias that William Gibson and Phillip K Dick have well imagined are also not appealing.
I imagine a future where we continue to get more efficient, and computers are miniaturized, and maybe quantum computers are developed… Nanotech devices to keep us healthy—may knock the bottom out of the health care sector…
This crash is not a mere blip. It is also the biggest factor contributing to the election of Obama. We are poised for change, but I think Obama will only be the symbol of it. The real change will happen at the grassroots level, and in labs across the world where technology is still moving forward at a breakneck pace.
We’ll take more time to evaluate tech, and financial opportunities. At least for a decade or two. But in not too long another generation will come along that has never experienced a recession. Bubbles will happen over and over.
I guess I don’t see people changing much, and thus I don’t see the jobs in the economy changing much, except, as driven by technological innovation.