This opinion piece by Charlie Demerjian over at The Inquirer is well worth a read for us older gamers, I have to say I remember well most of what he talks about in the last gaming industry slump and can recognise a lot of the same things happening again.

Is the apocalypse nigh? I sure think so. The last one happened at the height of Atari's power, they were invincible, pumping out hit after hit. Pac-Man, ET, Asteroids, movie tie-ins, overflowing arcades and a rabid fan base. They were in the spotlight of the mainstream press, songs making the top 10, and money coming out of their ears. What could go wrong?

He could very well be right, the gaming industry may very well be about to implode. To be fair, it's not the first such article I've seen recently, many observers and industry veterans alike are forcasting the same thing. We're all doomed, doomed I tell thee!