sub prime and its impact

Here's a question for Fatstocks, Warnie and others who clearly put a lot of time into understanding the market.

We all know that the USA situation is impacting enormously on the ASX and we have seen the effect recently on the small cap mining stocks which theoretically should be somewhat isolated. I guess they are considering how well stocks such as GDA, FDL and others have held their ground.

BUT what do you see to be the outcome of a steadily weakening ASX?

Seems that this might be the fundamental question as all other decisions can be based on effective research and sound judgement..... okay I admit it the thrill of the big gain :)