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Possible worldwide Recession coming?

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pvtnum11 OMG NO NOSECONES from Kerbin low orbit Since: Nov, 2009 Relationship Status: We finish each other's sandwiches
OMG NO NOSECONES
#1: Sep 28th 2011 at 6:06:35 PM

http://www.cnbc.com/id/44705667

So says this article, but I'm having great trouble making sense of some of the more technical things. About all I can fathom is that our markets are more intertwined and that policy makers need to get in more or less agreeance in how to tackle slumping global markets, especially with Greece. Also, some junk about China attempting to cool off their economic growth in case they're riding a bubble or soemthing.

Can you economic-savvy Tropers chime in and break it down in simpler terms, maybe? I can barely balance a checkbook.

Happiness is zero-gee with a sinus cold.
USAF713 I changed accounts. from the United States Since: Sep, 2010
I changed accounts.
#2: Sep 28th 2011 at 7:51:31 PM

As I understand it, something about Greece going under is going to fuck the Euro, and then the whole Eurozone goes bye-bye, taking the US with it.

Something about austerity, and dumb politicians. Well... especially dumb politicians.

~shrug~

Great Depression 2.0. Welcome to the 21st Century.

I am now known as Flyboy.
deathjavu This foreboding is fa... from The internet, obviously Since: Feb, 2010
This foreboding is fa...
#3: Sep 28th 2011 at 8:07:43 PM

Here, that explains it.

Look, you can't make me speak in a logical, coherent, intelligent bananna.
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