Why are you able to remain so cool in a crisis? Why are not you panicking?
While the current economic situation is uncomfortable, there are three numbers I'm keeping an eye on that convince me that all is not lost: the 30 year fixed mortgage rate (6.011 APR today on E-Loan), the 10 year Treasury rate (3.72% in today's auction) and the dollar exchange rate (up against just about all world currencies in the last few weeks). All of these are in very comfortable territory in historical terms.
Basically, these numbers mean that we're not in a liquidity trap, that people still have faith in the credit worthiness of the federal government and that, in a crisis, international money is still taking refuge in the dollar. I'm not saying that everything is hunky dorey, but I am saying that, right now, the smart money is not expecting Great Depression II.