The current crisis is not cyclical, it's man-made:
http://www.rollingstone.com/politics/news/12697/64796
Some have seen it coming, ie it could be averted.
http://www.youtube.com/watch?v=2I0QN-FYkpw
Countries have been breaking the basic economic law - income >= spendings - for a long time. There are several ways to get rid of the debt, eg inflation or nationalization. All of them are unethical and are basically stealing from all but a select few at the top. That's what this article is about.
If things come as far as the author writes, it will affect all of us here at Hacker News. There is a lot of people here trying to create something, to enrich the others and thus to get rich. It will all be in vain if our governments decide it's time to rob us.
I could have been less emotional and more specific about this. Thank you for challenging me.