der Spiegel article

"The banking crisis is upsetting American dominance of the financial markets and world politics. The industrialized countries are sliding into recession, the era of turbo-capitalism is coming to an end and US military might is ebbing. Still, this is no time to gloat."

Who else saw this one coming?
Do you think it's a good or a bad thing?

While I don't really want there to be an economic depression, I sort of feel like we were all asking for it... not ALL I mean I know I for certain was not blowing my money on a bunch of stuff, I'm a super saver... but I feel like this might be the lesson the world needs right now.