This is a pretty interesting article about some relatively big companies that are on the brink of failure because they've neglected to adapt their business models to current market demands and/or put themselves so far in the hole that they can't dig out.
After my last godless post somebody commented that they were shocked I believe in science and evolution. I do. The evidence is solid enough to be irrefutable except by idiots with their own opposite agenda to push. I like what the author Tom Robbins said. "If there is a God he shot his wad on the creation". Then he rolled over and has been napping ever since.
I'm not so sure that the current economic upheaval is quite the Armageddon that some are claiming it to be. Industrialization, and the attendant economic power, began in Europe and then moved west to America and is now moving west again to China. Europe didn't disappear when America became a superpower, in spite of having to recover from two World Wars. Former world powers England, France and Germany had to adapt to lesser positions but they survived. It is worth noting, I think, that Spain and Portugal (who were already former world powers themselves by that time) mostly sat out the World Wars.
It is true that the current economic situation is bad. There's no fucking doubt about it. And I believe it'll get worse before it gets better. The current political situation is in the same boat. As OB noted in the post below the Republicans are in the process of eating one another alive. Yawn...no more so than the Democrats did when GWB was elected. And 40 years of what now? Make it 45 and the Democrats have had Johnson, Carter and Clinton so you can't claim an uninterrupted orgy of Conservatism. Democracy is only fun when your side wins. If there have been 40 years of anything it has been what the majority voted for.
That being said, I see no reason for this economic downturn to last indefinitely. Our businesses, large and small, will have to re-examine the way they do things. Our government will have to help them as best they can without putting the taxpayers (and subsequent generations) in debt up to our eyeballs. We the people will have to get over our credit addictions and stop living beyond our means. I firmly believe that we have put ourselves in this mess, all of us together...government, corporations and consumers alike.
The world is changing and we need to adapt. Evolutionary pressures that cause us to differentiate into separate species isn't an option if we intend to survive.