Is world recession likely?

Yes, after the great depression which shook the world  in 1929, this in 2008/09 is would last longer and more damages would be done by the recession.,

- The recession can be witnessed when there are fall in the purcahse of any type of goods -> which relates to cut in the production -> which translates to lesser procurement of raw material -> which indicates excess of  produce.

the great depression of  1929, envisaged and implemented a concept called "Credit Purchase"  wherein the purchase is entertained and the movement of goods cycled and the economy started to look up on the cycle.

1929 depression had the option of  Credit Purhcase by the Society at large, wherein the future earnings went towrads the purchases made and leaving no or small portion for the new purchase

2008/09 is dangerous as

-  recession is witnessed wherein even the credit buying is reduced, in fact no credit available as Banks and Institutions are worst affected by the "Credit Buy" of 1929 depression.

-  Tax payers money and central exchequers cannot support for long as the recession gets harder the tax lines and interest lines need to come down leaving the governments with lesser central pool support the crisis.

- Harder the recession the stronger the hoarding on Black Pool with lesser money in circulation making the purchases hard to come by.,

- This is  a Cycle, now the society needs to move from credit buying to saving buying to bring out the actual money pooled in the banks and instituions, this would be gradual and hence the longer the recession.....