As credit markets slowly thaw the economy is contracting. Markets are correcting all over the world. Roubini says it'll be the worst recession in 40 years. 18-24 months of contraction. 8-9% unemployment rate. Bad times.
This is leading many to call for a fiscal stimulus package-- Roubini says $300 billion is the necessary sum. This all leads David Brooks to the conclusion that bigger government is ahead.
I tell my upperclassmen that this is when they need to stay in school. Get your MBA, add on to your math coursework, think about becoming a CFA or an actuary, take more accounting classes, learn a foreign language. Because only the really strong have a chance to really thrive.