Well has the whole world gone mad? The financial meltdown is created by us panicking and it is now almost a self fulfilling prophecy and it is truly frightening. In times like this historically wars have followed.

Who is to blame? I think we all are frankly. Easy loans, easy credit. Go out and live a great life on your credit card. But if you really look hard isn't that the US lifestyle that has been gradually exported over the years. The US has been literally bankrupt for decades with its huge balance of payment negatives - where was all that money coming from? Banks. They gave out money to anyone wanting it in the form of loans, mortgages and more as we all tried to have the American Dream which now looks increasingly like a bloody nightmare.

I'll tell you who didn't help much either - OPEC. By allowing oil prices to go up and up they accelerated this crisis. Well, they will suffer too in the end as demand for oil falls and the price sinks. I hope they are left with oilfields that don't make any money....

Amazing times we live in....