""Most people have no idea how grave the present situation is or the disaster the country will face if trillions of dollars of over-leveraged bonds and equities begin to unwind. There's a widespread belief that the stewards of the system - Bernanke and Paulson - can somehow steer the economy through this 'rough patch' into calm waters. But they cannot, and the presumption shows a basic misunderstanding of how markets work. The Fed has no magical powers and will not allow itself to be crushed by standing in the path of a market-avalanche. As foreclosures and bankruptcies increase; stocks will crash and the fed will step aside to safety." I write almost every day on this and related topics, so I spend a lot of time researching and learning. Our little clan has been very busy in preparation ? securing rural land, coming up with off-the-grid means of managing home energy means, etc. I fully believe that we are facing a Great Depression-style economic downturn in the near future and the time for preparation is fast running out."