So in the middle of a deep recession, that would have been a brutal and irreversible shock to the entire economy and to the future of millions of Americans.

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That either means the recovery won't actually materialise, because households won't want to borrow on that scale, or it means that the economy will remain vulnerable to an interest rate shock for the foreseeable future (if interest rates rise, the spending power of consumers would be devastated).

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" One general believes this shock to soldiers might haunt Wahid in the future: "This is the perfect condition for political intrigue.

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Heavily indebted companies are also more vulnerable to economic shock and bankruptcy, increasing the risk and magnitude of any future financial crisis or recession.

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In 1970 Alvin Toffler wrote Future Shock, still one of my favorite futurist books, even though the future for which he tried to prepare us is in many ways already yesterday.

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