As for the gaming industry, Hawkins, who stepped down as CEO of his third gaming company Digital Chocolate last year, says gaming publishers seem to be going through tough times.

FORBES: Gaming Innovator Trip Hawkins Sees Future in Making Gestures

Not only would that be a terrible burden on families who are already going through tough times, it would be bad for our economy.

WHITEHOUSE: Presidential Press Conference

None of them are going to be quick, but make no mistake, the United States of America has gone through tough times before and we always come out stronger.

WHITEHOUSE: President Obama Speaks to Military Personnel in Pensacola, FL | The White House

Competition will be tough: tariffs on the new pipeline are ten times lower than for the line through Chechnya, and the crude oil received at Supsa, known as Azeri Light, is of higher quality than Russia's Urals Blend that flows via Novorossiisk.

ECONOMIST: The Caucasus: By-passing Russia | The

So it may be time for England to bite the bullet, pick some talented youngsters, stick with them through some tough times and reap the rewards in a few years time.

BBC: Q&A: Merv Hughes