What are everyone's opinions on the state of the economy?
Down here in Spain they seem to be being hit especially hard. Tourists are staying away which is driving down the amount of money our business is earning. Back in the UK things don't seem to be so bad, although I understand Mr. Brown has been in heated discussions with the US regards the global state of the economy.
How did things ever get so bad 
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Currently every country are badly affected by the Crisis. Everybody feels the pain of credit crunch. Though its effect is intense in some part of the world. Everybody think that these imbalance is created due to competition in availing the loan to the customer. These competition was so keen that nobody tend to check the credit profile of their customer and resulting into huge burden of debt leading to the situation of recession.
Credito Prestito