tangoindia

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Common sense is not common

Led Zep

I think it is very difficult to have an economic downturn in one part of the world and not expect it to eventually impact other parts down the line. Similar to when one member of a family gets the flu, others in the house typically come down with it later. It is a global economy, so when one large economy has a downturn it will usually impact one or more.

I tend to agree with most economists who say we aren't in a recession - yet. The economic numbers are far from stellar, but the numbers and data do not suggest a recession at the moment. The reason I mention this is on the chance the economy does enter a recession. If the economy does enter a recession, and I think the odds are fairly good that it will, then things will get a little worse before they get better.

Very good question. I think a lot is going to depend on how we are going to define "normal". For example, if oil remains high and stabilizes at those higher prices, then the industry will have to adapt to doing business in a manner different than in years and decades past. Of course that is only one of many factors which affect the economy.