Personally I think this economic down turn is a direct result of last years rising fuel prices.
When one considers that all commodities are transported globally off of petroleum based products,
the enormous jump in fuel energy costs had a stumbling effect of crippling companies profits.
It had the effect of chopping too much profit from raw goods and companies therefore had no where to go but recede production.
There was a similar economic situation similar to this back in the late 70's in an oil embargo orchestrated by OPEC
resulting in a global recession in the proceeding years .
Interesting enough crude is being sold right now 2/3 cheaper than it was just a few months ago, what happened to that supply
and demand hearsay that the oil companies told us about when oil was trading at $140 a barrel, now oil is coming out all over the place
and they can barely give it away...........corrupt assholes.
My opinion now is that were going to have to endure a recession for at least a couple of years until the economies re-stabilize themselves
and not until that happens are we going to start to climb back up to a healthy economic state globally.