Would someone please tell Paul Krugman and his ilk, and anyone else who is going on about how we are on the verge of another Great Depression to get out of their university offices and look around at say, Yahoo or maybe home prices.
IF they did, they'd come across this piece on what the best things to buy during this downturn are BEFORE things get better. This suggests to me that a fair number of people are acting exactly as the neo-classical or Austrian model suggests - rationally.
Don't believe me? Google "foreclosures for sale" and you'll find a billion sites that tell you how to make money buying foreclosed homes.
Times are hard, there's no doubt. But to continue to compare this to the end of the world defies empirical reality and stinks of political fear mongering.