[Pamlicotraveler]

Love the Cramer cut! Keep in mind he is an edgy hedge fund trader...he swings between manic enthusiasm and depressive pessimism - so you might hear him be bullish on the market a week later.

For a less entertaining, but more intellectually stable perspective I would listen to his former partner Larry Kudlow. His view is that when the dust clears and credit markets resume functioning, the banks will divide up the loans and resell them (at high rates - and at a loss) to pension funds, insurance companies, etc. and life will return to normal. Lets hope he is right.

By the way...the perfect storm would be to allow protectionism (China trade tarriffs) to creep in as some in congress want. This would cause inflation, thus higher rates for the adjustable mortgages and more defaults. Remember Smoot Hawley tarriffs (1930)!!!