is this going to be the morther of all crashes

The more I read, the more concerned I get.

Us humans resist change and the markets have held well considering what some commentators suggest we are about to experience globally. Sometimes I wish we could just get it over and done with and drop 800 points in one day.

We need something like that to happen to cleanse the system and move on.

Our banks have fallen but the future looks even worse. At home, our property market has been strong for many years. Only recently did property prices show a relatively small correction (except for south west Sydney etc). I think it has a long way to fall yet.

Our banks have had a great time dealing with loose credit and strong residential and commercial property prices not to mention shares.

Now that credit is drying up and we will see more weakness in the housing market and this will spill into everything.

The US is in a consumer led recession not a corporate led recession which we are more accustomed to. It has been approx. 20 years since the Americans experienced soaring inflation and we are in unchartered waters in many respects.

Is this going to be the mother of all crashed? How bad can it get? Is 4100 a real possibility? Or should be all going long cuz everyone has turned into a bear?