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This is all a question of scope.
A lot of commentators blithely conflate ‘major economic woes’ with ‘total apocalypse’.
There is nothing in tha Guardian article that people don't already know—put simply, we've had the massive excesses of profit from the last decade wiped from our slate.
In one sense, this is a terrible, terrible thing to have happened. especially if a focus on making a lot of money's your thing.
In another, it's not, especially if you're just another schmo caught on the tide.