[Porsche-O-Phile]

The RE market will crash. We will see the collapse of at least one major lender (Citigroup, Wells Fargo, Washington Mutual, etc.) before this is over.

Fuel rationing is a possibility. I see at least one refiner going under soon - at a time when we need more (not less) refining capacity.

Collapse of local and even a few state governments (bankruptcy).

America has been "brains off" for the last 10-or-so years with regards to our situation. Everyone just kept pretending that endless real estate appreciation was the answer to all the world's problems and engaged in all manner of stupid and unsustainable choices. Now the consequences are starting to come home to roost, and it ain't gonna' be pretty.

I say the problems lurking under the surface of our economy are so bad there's a 30%-40% chance this could get as bad or worse than 1929. More likely it will be a very long, drawn-out, painful recession/stagflation period similar to what Japan went through. It will last decades.