We are screwed.

And I mean Big Time. Talk about irony: the financially irresponsible, money-hungry wall street elitists have fallen prey to the financially illiterate, spend credit like-its-free common folks. And the result? A soon-to-be frozen economy grasping for a lifeline from a government whose balance sheet is worse than any flailing bank we've seen yet. So how should we watch our economy sink? We can sit back as our businesses and citizens cry for credit, or we can say a prayer to China and cough up $700B in tax dollars as inflation skyrockets. I think we are in quite the quagmire. If for some reason you're optimistic, maybe the housing market will eventually bottom out and defaulted assets will actually be worth more than a penny. Otherwise, let us run for cover (or should I say for gold).