So far, so good. Sounds like there's no reason to be complaining, although one should understand that contrary to most normally healthy economies, there are absolutely no financial reserves left in Estonia, which is the main reason this economic downturn is going to hit us as bad as it will finally sometime in the middle of next year. Flasher has pointed to the fact that all things being equal, there shouldn't be need for such extreme concern in Estonia. However, to the average Estonian it is perfectly clear that something is going to have to give. Flasher has pointed to the fact that there is not only good labour in Estonia, there is VERY GOOD labour to be had at market price. My feeling is that that is going to be the one foreseeable invisible commodity that will fall by the wayside at the end of this downturn, as people awaken to the fact that there is really no more prospect of improving one's personal wealth for some considerable period of time; that the only worthy commodity left in Estonia that any employer is interested in will be labour of a standard that will have to be immeasurably higher than ever before, and at least at the same cost pre-economic downturn if not cheaper. I don't think the majority of Estonians are going to be thrilled at the prospect of having to work even harder without seeing the fruits of their efforts flowing forth. After all, who is stupid enough to believe life is ever going to get cheaper here??? Next year it has been predicted that as much as 8% of the Government sector of the Estonian workforce will find themselves on the unemployment list. Welcome to Estonia-I don't think so!

The long-term trend of a democracy's economy is upward -- in a saw-toothed fashion.