Will be in my interest to spread doom in this and other forums but it is time for cool heads and fair-play.
The problem (made made imo) is huge and potentially could lead to depression which is why Central Banks around the world are taking a co-ordinated approach to soften the man made economic problem.
And history shows that they will succeed (1997 Asian Financial Crisis and 2007 Global Financial Crisis).
Short term, fear will reign as we have a whole generation of investors (since 2010) who have not experienced a bear market and they are making all the classic mistakes that new investors make of selling everything, compounded by the fact that there have been totally irrational investment excesses out there (think Bitcoin) and many investors have used leverage (ouch!).
Long term, easy money by the trillions being pumped down into the global system can only mean one thing - yes, Central banks and governments are fearful too which is why they are pumping in the trillions - but asset vales can only rise when the dust settles.