A global economic collapse is not a single event. I would suggest that it started in October 2007, and will continue for several more decades, at least. There will be ups and downs. At a global level, no one can predict when a big up or down will occur. But as long as the long-term issues are not addressed - and I don't think they can be in less than a century - we are all living in a slow global collapse. To see more thinking like this, please see my Hub, Welcome to the Fifth World.