Europe

Bail out isn´t the solution, it is just postponing, collapse will happen in increments that conceal its happening from many people who will blame all kinds of scapegoats for their troubles.
Quality goods will continue to be evermore scarcer and dearerand so will jobs (not dearer, on the contrary cheaper). Other goods will continue to be junky. Real quality of life will continue to degrade and real wealth will be lost to inflation for many people.
The unease that people feel, knowing something isn't working right, will continue, but political shamans will deceive people and find "solutions" of a facile nature which will fail to solve the structural problems, but will kick the can down the road.

A better world is waiting for us, in which we will find that freedom from money means a harder, but most intriguing life.
Friendship, love, will again have the place they deserve in our lives.