Discussion on subprime problems in US

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Hi Start a new discussion on the above topic. Would like to hear the ground from those mylotters residing in the US. Comments from other countries are most welcome. US stock mkt is falling like ten pins becos of the worsening subprime woes in the US. This inadvertently affect countries round the world. Even across the asia pacific, the eastern mkts were also falling. There are fears that there could be a full blown financial crises in the US much like the Asian finacial crises 10 yrs ago. This in turn will affect the world as banks in other countries also have exposure to the US debt mkts. So would like to hear from fellow mylotters from US. Wat is the situation on the ground now? Will the situation worsen in the US that will push US into a recession? Looks like we really have to work hard on our internet income by signing up more free prgrams like mylot so thats those who lose their jobs if the situation worsens will not be badly hit. Start the discussions guys!!!