Step 2: Spend all your money, which is now, essentially worthless.
I really don't think the economy is in that kind of a state. We, at this point, are a little bit incapable of a "great depression" because of the level of increase in technology. I just don't think it's going to happen. I mean... I went to a grocery store yesterday and had to stand in line for an hour. That's not pre-depression levels of purchasing. If that had been a soup kitchen I would understand the worry for a "depression" but I think people underestimate just how bad the great depression was. We don't have anywhere near the unemployment and we don't have anywhere near the level of businesses closing and we don't have anywhere near the poverty level. Also, the economy was kicking *** before the great depression then it fell like a ton of bricks, pretty much all at once, for a similar reason I suppose, but we have had a downward climb as opposed to fall. That means there will be enough time to fix it as long as we get someone remotely competent with economics as the economic advisor (then the new president, you know, listens) so we stop getting stupid stimulus packages and bailouts and instead get what we really need which is incentive for small businesses to open so that people get jobs and start spending that money.
As far as the interdependence goes, we are a lot more connected then we were. I think, if anything though, this will just lead to more organizations like the European Union. More globalization. Will it be a recession? Yes. A depression I think is a little to far.