Here's something to REALLY worry about indicating the end might really be nigh... Seriously though, the only certainty is that if you think it's bad, it's going to be way worse! But really, being serious this time, it's so bad that you may as well do nothing because there's nothing you can do. Did you feel affinity with that? Did it stimulate your doomsday confirmation bias? Last night my wife got me to watch a documentary about a Brazilian chef and wonder of wonders, he had great insight... [youtube]http://www.youtube.com/watch?v=op3YmluuAN0[/youtube]
The worm has turned on the bond market. This money is going to pile into the U.S. dollar and the stockmarket.
As for our collapse, well me may just benefit from the inevitable rush to tangibles. Gold, silver, real estate, paintings, wheat, oil, rice etc etc. The u.s. dollar is going to skyrocket and hopefully our dollar will be at a significant enough discount that we can ride out the bad times. I think our chances of escaping the worst of the downturn absolutely shit all over the chances of any European country in avoiding it.
That's where interest rates went soon after my wife and I took out our first mortgage. It's the principal reason why it took two salaries to make the payments on the smallest, cheapest house we could find - despite we boomers 'having it easy'. House prices as % of average annual earnings were much lower. The total repayment as % of income has actually gone UP even though interest rates are lower. That means people are closer to the edge/margin. They have less wiggle room if they lose their job.