What does current economic crisis meant to a scholar like me?

The subprime crisis burst, results in economic fall down happened in America, and european country now, will have a long lasting effect to global economy. However, i am not going to look in into details but just estimate how will the economic crisis effect me.

Firstly, following the economic downfall, the rising of rent in sub london area will likely be reverse. Which is a good news for me as my monthly expense is going to reduced. However, economy downfall would mean unemployment rate goes up and less job available. Which will be bad if i am looking for second income.

Looking back to malaysia, the falling of international crude oil price recently, will greatly reduced the income of malaysian government by an estimate of 26 billion. Besides, as america economy falling, export from Malaysia to USA and other western country will fall too, which results in less tax for the government. If the government start to cut off expense, they either give less scholarship , change location for current scholar, or even drastically call back all the malaysian studied overseas. The latest happened before and i surely do not wish that to happened to me.

In othersway, JPA might cut the allowance rate to reduced expense. Lets hope that do not happened..... omg