There is no longer any dispute that the world is going into a recession. The only question is how long and how deep: 1970s-style or 1930s? But just because business is bad doesn’t mean it stops completely. Just as plants renew themselves in a frosty winter, so the economy often does the same during a prolonged contraction.
During the 1930s, new industries such as consumer electronics and plastics were created. In the turbulent mid- 1970s, the personal-computer industry was born, as companies such as Microsoft Corp. and Apple Inc. were founded. The economy didn’t look much good then, either, with soaring oil prices, rampant inflation and tumbling stock markets. That didn’t stop a young Bill Gates or Steve Jobs from setting up new businesses. No doubt there are now plenty of young entrepreneurs with bright ideas and loads of determination ready to build the corporate giants of the 2020s and 2030s.
http://gccequities.com/2008/12/22/five-opportunities-to-help-beat-world-recession/