How Bad is the Economy Going to Get?

A recent article in The Atlantic discusses the current economic situation. One paragraph that jumps out at me is this:

The conventional wisdom among the elite is still that the current slump “cannot be as bad as the Great Depression.” This view is wrong. What we face now could, in fact, be worse than the Great Depression—because the world is now so much more interconnected and because the banking sector is now so big. We face a synchronized downturn in almost all countries, a weakening of confidence among individuals and firms, and major problems for government finances.

This writer clearly feels that the current financial situation is far from over. People who are looking to find bad credit personal signature loans may not be readily able to secure such loans. It is tough to find a glimmer of hope in the current financial situation.

Tough times are here. It will one day get better.