Hm, not so sure. Employment numbers for this month were good, US might be headed for a real recovery next year, though Europe may take us down with it.
I think there is an underlying issue of governments papering over differences with "fiat money". It's too easy to pump up the money supply, or contract it, depending on what needs to be done. It has made it easy for a long time to, IMO, in both the US and Europe, cover up deficiencies in the real economy and it has finally caught up with us.
Hard to say what the way out is, but I personally don't think the sky is falling. The premise that because the economy is going badly everything is shizzle is a flawed one IMO. My religious faith tells me that this life is not everything, that material goods fade away, and that we should not put too much stock into what we own.
But many leaders and media will have us believe otherwise. The article you post above states that economic global growth may be "as low as 2.7%" over the next 10 years. Gasp! I am shocked! Don't know if I can take that! LOL! Isn't that still better than negative growth?
So what happens if the economy grows more slowly and I don't have as much money? Then I suppose maybe I can't afford a bigger house a few years down the road (presuming that's what I want). Okay so...(gasp)...I have to....(OMG!)...live in my same house! Oh noes...not that! Anything but that!
But I still have a house, right?
So I think my point is...the economy sucks. So what? There is more to life than material goods. And maybe the problem is not "the economy" but our expectations and aspirations. Stuff ain't everything.