Jeez Relax - I went through '89 as well and I have a completely different outlook on than you.
It was the best thing ever for me. Opened up new horizons, sent me overseas (albeit against my will) and has changed my life immeasurably for the better.
I'm sorry you're such a self-admitted pessimistic old defeatist miseryguts but for me at least I have prospered by going out and grabbing the world by the nuts and taking charge of my future rather than being a passive follower. Such thinking has served me well so far and most importantly I'm not at the mercy of some selfish managers' short-term thinking.
Mate I'm sorry you happy in your world of pessimism so you avoid disappointment but that's nothing more than your comfort zone, it's not necessarily reality - it certainly aint mine.
Now is the best time in living memory for younger pilots to take advantage of this terrific situation. There hasn't been an impending shortage like this for years. Virgin are employing DEC's and that's just the start. Tiger of course are and so inevitably will J*. And if you want a lucrative career there are many OS airlines desperate for experienced pilots.
Make hay while the sun shines and ignore the miseryguts!