The world bellweather DJIA plummeted over 500 points in the last two days sending jitters through already volatile global markets.
Analysts are about evenly split over whether the Dow's next stop will be 13000 or 14000.
Clearly, however, the health of the US markets will be a cause of mounting foreign concern as volatility in world markets, instability in oil supplies, and the squeeze in borrowing costs chips away at confidence in the US economy.
Amid this trend watch for:
-continued volatility and uncertainty in overseas investments
-weakening of US currency rates
-inability of US businesses and consumers to borrow for investment or spending
-contracting of the US domestic market
-continued and growing inequity between the top ten percent of wealth holders and the rest of the population in the USA and abroad
Finally, don't look to the Bush Administration for any answers. The administration, as in other areas, will be less than candid relying on inaccurate economic data to paint a rosy scenario. The government will be anathema to any sound economic policies to rejuvenate a deflating economy.