The only thing 'coming' is GFC Part 2 and, thanks to our pollies, this time Australia has no ability to weather it.
I think Australia is particularly well placed to weather a number of economic scenarios including the current European crisis.
The worst case scenario I see is a crashing commodity demand which puts us in a low dollar, low interest rate environment. That will suit consumers and a number of areas in our economy.
On pilot demand, Australians generally now pay for endorsements and standards are modest. In combination, this will always ensure there are plenty of folks 'suitable' for filling airline seats.