Shit.

I guess we aint seen nothin yet.

Man, if Krispy Kreme goes my life is like so fucked!

Is there a pizza bubble on the verge of popping?

Do people think we are in for a world wide depression? I get the sense when I watch the news although the media seems to be hyping this issue, there seems to be little substantive discussion. Now I am no economist (what the hell is that anyway?) but I can tell something is very wrong. I have tried googling these issues, but come back with little useful info. I fugure I am not asking the right questions.

...the rest of the world is focused upon it, in terms of the economic/business press.

Take a look at my diary-related links over the past few days here and (under the same screenname) at DailyKos.

Even here, I'm a huuuuge fan of Ilargi, over at: http://theautomaticearth.blogspot.com.

The guy's nothing less than brilliant, IMHO. Jerome a Paris, perhaps one of the top bloggers on the economy in the progressive blogosphere is also a big fan of his.

and those other big corporations.  I just want to know if HEAD-ON will survive.

"What would happen to their towns, their friends, their jobs, and their friends' jobs if the following companies no longer existed?"

Uhm .... they'd be working for internet companies, green technology companies, better financial institutions, you name it.

Thousands of large corporations have folded in history.  Nothing innately wrong with that.  It's capitalism.  I'm sure you've heard of it.

The Fed and the world's central banks are desperately trying to keep the global financial system from going over a cliff. They managed to avoid a complete meltdown when the Fed intervened to liquidate Bear Sterns and prop up the investment banks earlier in the year taking in their junk paper for cash loans providing Wall Street chief financial institutions with desperately needed liquidity.

Now it looks like we are going to see the next wave in the credit crisis and the Fed is running out of options and ammo. If they lower rates further they risk a dollar collapse and hyper-inflation. If they raise them to defend the dollar it could trigger a deeper recession or worse.

The US economy could not survive a third Bush term. We are borrowing more then $2 billion a day to keep the economy afloat and keep the war going. Our biggest creditor is Communist China. We are in the hole for more then $90 Billion to Mexico and more then $20 Billion to Hugo Chavez.

The ponzi scheme that the Republicans turned our once great economy into is unraveling. The scam is over. The empire is busted. If McCain were to "bomb, bomb, bomb Iran" the ensuing oil shock and run on the dollar would bring down the whole house of cards within days. Let's hope Bush or the Israeli's don't start a war before Obama is inaugurated. We are on the precipice and it will take a very competent triage team to heal the damage and get us back on track.