This sounds like having been written to describe the current crisis:
It is enough to mention the commercial crises that by their periodical return put the existence of the entire bourgeois society on its trial, each time more threateningly. In these crises, a great part not only of the existing products, but also of the previously created productive forces, are periodically destroyed. In these crises, there breaks out an epidemic that, in all earlier epochs, would have seemed an absurdity — the epidemic of over-production. Society suddenly finds itself put back into a state of momentary barbarism; it appears as if a famine, a universal war of devastation, had cut off the supply of every means of subsistence; industry and commerce seem to be destroyed; and why? Because there is too much civilisation, too much means of subsistence, too much industry, too much commerce. The productive forces at the disposal of society no longer tend to further the development of the conditions of bourgeois property; on the contrary, they have become too powerful for these conditions, by which they are fettered, and so soon as they overcome these fetters, they bring disorder into the whole of bourgeois society, endanger the existence of bourgeois property. The conditions of bourgeois society are too narrow to comprise the wealth created by them. And how does the bourgeoisie get over these crises? On the one hand by enforced destruction of a mass of productive forces; on the other, by the conquest of new markets, and by the more thorough exploitation of the old ones. That is to say, by paving the way for more extensive and more destructive crises, and by diminishing the means whereby crises are prevented.
That does have a familiar ring to it and it could have been written recently. But it wasn’t it was written in 1847 and published in 1848 under the title of “Manifesto for the Communist Party“.
If you take the time to read the document – it is not to long and worth it – you will recognise more similarities between then and now. Even if you don’t have any affinity to socialist or communist ideas.
BTW is scribd somehow anti-communist or anti-free speech? I tried to upload the document several times only to have it removed every time because ‘it was copyright’ material. It isn’t it is under the Creative Commons Attribution-ShareAlike License.
UPDATE: scribd fixed it now the document is up: