I think collapse is a very strong term.

The way see it is that the recession is going to be long, very long. But it wont be a collapse. We will see state after state, company after company, country after country hit crisis and be bailed out.

The crucial thing is this will happen in sequence rather than all at once.

We survived a major banks crisis earlier this year and can probably survive another similar crisis without the world going to ruin.

Im predicting 10 years to recover from this myself. Any other predictions?