I think we are seeing major history in the making. I feel it is the tip of the iceberg and that we are now entering a period where credit will shrink further, exacerbating the problem. Banks and other financial institutions will take a much larger beating than we saw over the past week. Jens predictions: 1) When everyone runs for safety during currency jitters, watch Gold shoot past $1,000 an ounce. 2) I am very bearish on stocks and believe even blue chips will be sold when smart money runs to cash. Financial stocks will continue to suffer. It will NOT be isolated as the Bulls promote and this is NOT just a routine market correction. It is a glimpse at the cancer that has not been diagnosed yet.3)Even if interest rates drop shortly as one of the Band-Aids the Fed uses to try to clean up the sub prime problem or if fear of US instability starts more selling of the dollar, interest rates will have to eventually rise considerably to lure the world back to buying the dollar. 4) Real estate could fall to 2000 prices in your city before it hits the bottom. When the other shoe drops you will see large banking layoffs, an immediate shut down on private company buy outs, private equity injections and of course companies going public. This is just the nature of any strong bear market which I think we are entering. What is happening now and what happened in 1929 share a lot of common denominators. A recipe for disaster which is presently unfolding before our eyes has happened before.