Having been through the downturns of the seventies, the eighties, the early to mid nineties and everything else in between then and now, am I alone in thinking that the main part of the problem is the media seeking sensationalist stories?
Yes, there is a shortage of money from the banks, but with world + dog telling everyone within shouting distance that the sky is falling and that they are not going to buy that new car/computer/house/holiday, the knock-on effect of what that does to to the suppliers of those products can only lead to economic stagnation at the very best.