US public and the economic downturn

Interesting article from the NY times.

In all of this discussion, although there is plenty of discussion around economics and fundamentals; it is the general mass population and their behavior that is most important and acts as a magnifier of any effect. If they are happy and unconcerned, it all continues and the economy can slowly be let down. If they panic, all bets are off.

Slump Moves From Wall St. to Main St. - New York
Times

Also try to watch this Movie: Maxed Out. This details how the subprime crisis could spread further