Saying the economy is in a jam - across the globe - is an understatement. You're hard pressed to avoid seeing how bad things actually are when watching the news, every day some bad news lands right on top of the bad news of the day before.

Fragland wouldn't be a gaming website if we weren't wondering wether or not the current recession will also have big consequences for our favorite industry branch - the entertainment industry. Apparently we're not the only ones wondering, our colleagues at CNet are curious about the same.

During the crisis of 2001 the gaming industry was spared of the biggest punches, then again that crisis didn't last too long. At least, in comparisson to this crisis, which is touted to last into 2009, or if you're pessimistic, maybe even well into 2010. Recent success numbers of the console sales then are sort of misleading, says CNet. The consoles were namely bought before the crisis hit home at full force, and before more and more people lost their jobs.

Analyst Van Baker had both negative;and positive things to say:According to Baker Sony would be the one most affected, they namely sell the most expensive console.

An interesting read, be sure to check out CNet for the full story.

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