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Kantor said:
So wait...this recession that was supposedly the worst since the Great Depression that would destroy the world economy and all civilisation ended...after 18 months?

There was a danger of that happening, if people lost all faith in the financial system and pulled out all of their money.

But governments didn't let that happen. They bailed out banks and ramped up spending to stimulate the economy, restoring faith in the stability of the system.

Now the tricky bit is to scale back the spending, get budgets back under control without jeopardizing the recovery, and make some systemic adjustments that will prevent a problem like this recurring in the future.



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