Is video gaming headed for a second gaming crash?

This seems to be one of those weird days. You know, one of those days where all you do is laze about while listening to depressing music; not because of angst, depression or something like that but because you're so worried about something bad happening that when it seems likely, your spirit is partially crushed for a while.

Alright, the reason I bring this up is because I'm feeling pretty down while looking up several ideas presented in the gaming industry over the last few months, and in particular the latest Jimquisition on Escapist. It's a well done video by good lord, is it depressing! The point I'm making is because I want to know your answer to an important question:

Is the video gaming industry headed for a second crash?

If you asked me this question over a year ago, I would've confidently said that it wouldn't happen as the circumstances to me weren't the same as they were 30 years ago. However, due to many recent depressing developments in publisher schemes to get money, development team forclosures and all sorts of things that I've read up over the last several months, I don't really know anymore.

And honestly, I'm really scared. I don't want another crash to happen; I don't think anyone wants to go through a crash again. But I just wanna know your opinions on the matter and what you think will happen to the industry:

Will the industry crash on a scale even worse than the original crash over 30 years ago?

Will things turn out okay?

If there is a crash, will the industry live on in spite of it?