The Sky is Falling...
One of the indicators I follow is the US dollar indicator. You can see it on Kitco's all metals quote page, http://www.kitco.com/market/, on the left under indicators.
It has dropped significantly this past week, today at 80.05.
Apparently 80 is the magic number the US federal reserve does not want to see it drop below. From what I understand, when the tech bubble burst it got into that range and that's when the credit bubble was launched, and we are seeing that crumbling.
The economists that I heard speaking about these events at a conference in January spoke very onimously that it would not be a good thing for the US dollar index to go below 80 and the fear of going below 80 is a severe, depression style contraction of liquidity and deflation.
The federal reserve has controlled the economy in a way to prevent deflation so it is something that we have never lived through, but they were common before the depression.
The other major concern is hyperinflation.
I think this is going to get ugly...