I think a rate cut is due on the 30th, and it needs to be 1%....

I think a rate cut is due on the 30th, and it needs to be 1%. Crammer on CNN suggested the US government takes over liability of mortgage insures who have their backs to the wall big time. As insane as that sounds in a free market I think they will have to do something like that the stop the rot.

Without some hard hitting action in the US very very soon the world can forget about a US recession, as they, and others are likely to move directly into a depression.

A Fiat money system in the the hands of self serving politicians has always been a recipe for disaster.
Every Fiat money system the world has had has failed.

On a positive note, since markets are oversold a short term bounce (dead cat) is immanent imo.