Recession?

For countries with a huge debt, a recession would be a murder, pulverized to death. And for Europeans, it would mean further erosion of European relatively high standard of living. The Yankees would continue to live on bigger debts. Japanese (and Kiwis) would struggle to recover from the natural disasters.

Eventually, China and India will crumble, too.

Would that happen when it is a matter of banks should be doing what they normally do. People are piling into cash deposits and gold is being used, temporarily as a "stable" alternative. But then when so much money get sucked into gold, I doubt if gold can retain its status as a value indicator.

Hence, governments of major trading nations cannot sit idle and watch the recession goes global. It won't be a GFC-tpe disaster but if no one wants to trade, then the world economy will fall. Will that happen? I am still hunting for gold producers!