(+5, Insightful)

Very insightful, Eeyore.

There are some very exciting prospects on the horizon, but before we get there I expect the world will be collectively paying for the mistakes of the past. If the economy recovers from the current recession, it won't be long before we hit another one. Since no one is willing to do what it takes to set things right, every recession will continue to be worse until everything falls apart.

There will be a lot of people out of work who will want to turn to drugs and alcohol. I hadn't considered that angle, but you are right.

We are also going through a fundamental change in the economy, as we shift away from an industrial economy to a service economy. This is good in the long run - similar to the shift from an agricultural society to an industrial society a century ago - but there will be significant disruptions in the short term. Please keep in mind, however, that barring a calamity on the order of an extinction event, the world will be unimaginably wealthy and healthy in two or three decades. This is not the end; it is the beginning.

I would recommend that anyone with significant savings invest in mutual funds, primarily for stocks in service industries and/or in developing countries with good rule-of-law.

My own experience would suggest that Eastern Europe, South America, and southern Africa are places where stocks may do well, but please investigate for yourselves and diversify your holdings.