First, there's the very real possibility that we're looking a some sort of global financial "panic" of the sort no one living has seen, the kind of thing that used to smash people's lives back in the 19th Century with some regularity but were suppressed by Keynesian economic policies for much of the 20th.
Paulson seems panicked, and Bushies are paralyzed by their insistence that capitalism MUST and shall be preserved from Big Gummint, even as it craters. What does this mean for wage slaves like myself and Mojo and our kids? THAT'S the scary thing - I have no idea. Should we start stockpiling canned food? Update our resumes? Learn to eat bark? What!? It's the not knowing that's so damn scary.
Second, there's the increasingly ugly, evil and insane tone of the McSame campaign.I don't mean the usual ugly, condescending, authoritarian crap that I expect out of Republicans, the sort of thing that tells you that Tailgunner Joe wasn't an evil, vicious fascist out to smear honest Americans but just deeply, deeply misunderstood. What I find especially frustrating is that the news reports and the punditry are trying to paint this as McSame and Bible Spice playing to the "crazies", when ISTM pretty obvious that these people aren't "crazy". They're the plain, "normal", ordinary people who vote Republican. And the McCain/Palin plan seems to be to encourage them to let their inner lynch mob out.
And we're still stuck with THIS jackass.
Christ, we're SO fucked...
Update 10/13: From Matt Yglesias:
"The entire Eurozone seems to be following Gordon Brown’s lead and working to recapitalize the banks by having the government take an equity stake in firms that need assistance. This is how Sweden successfully resolved its banking crisis in the 1990s and it appears to be the right thing to do. Here in the US, Hank Paulson seems to be edging in that direction, but he’s already wasted weeks trying desperately to find another solution and even now sort of seems to be dragging his feet — playing a very dangerous game on behalf of fealty to conservative ideology."I'm not sure we can wait until January to get shut of these stupid bastards. Impeach!