Without even considering the credit crisis, a recession is locked in for the USA due to excessive debt, falling real estate values and failing banks. Add to that a government that thinks the problem can be cured by more debt and you get the credit crisis. The USA is a hairs breath away from a repeat of the 1930's - they're stumbling around like a drunk in a minefield - good reason to be on tenterhooks as we watch. Where they lead we follow.
It's easy to think panic breeds panic and all will be fine once everyone regains their senses, but there are good reasons to be very worried this time.
On a more important note it's a beautiful sunny day out there. Sun is warm, grass is green. That's better
