The Times is very sensationalist. They are talking about a new Great Depression in the US, not likely, rather we are going get the Great Inflation, at least in the US unless people stop driving SUVs and consume more sensibly, as the Fed kills interest rates and further devalues the dollar, thereby increasing inflation but the economy still continues to grow. Foreign governments are intervening to prevent the US financial system from collapsing, in the short term this is good but the economic system is more and more controlled by foreigners, quite dangerous considering history.