Part of what I do is watch markets. Precious little of what I am seeing concerns me.

The value of the dollar fluctuates and those fluctuations are self-correcting, as cheap dollars make U.S. goods more of a bargain for the rest of the world. The reaction isn't instant, but it does come full circle. (Today, the U.S. and Canadian dollars are nearly on par, with Canada having a tiny edge.)

The commodities markets are being fueled by wild speculation. It can't last forever. Oil and gold are both hugely overpriced as commodities, in my humble opinion. Oil in particular is being seen as a safe haven right now. It's not. (I've watched Nymex oil vary by six dollars a barrel today on the futures market, and unleaded is down over $0.20 per gallon at the moment.)

The credit market is a situation that will correct itself. Like the tech bubble of the 90's... I'm expecting it to get worse this week and then start recovering afterward. Watch for another big financial house to go cheap...

As far as the possibility of a Great Depression, I believe the odds of that happening based on current conditions are minute. I may be wrong - and if I am, it is going to be an interesting ride. My parents survived the first Great Depression, and they were some of the best years of their lives. If it WERE to happen, remember that you won't be going through it alone. Depressions do not isolate people - they draw them together. And when people pull together, things happen.

One thing the U.S. is capable of doing is producing wealth - more than any other nation in history. That isn't going to come to a grinding, crunching halt. There are problems... lots of them... but each problem is also an opportunity.

I ain't buying Euros or oil futures. They are both way overpriced, IMHO. Many stocks are bargains right now. The dollar is a bargain right now too.

Standard disclaimers apply. I've been wrong before. Hell - I've been wrong today. Several times. This is nothing more than my somewhat informed opinion.