The D'uh is aimed at myself. I have been racking my little head, like many others, as to what is going on in the markets and when it will all stop. Where is the base line? Well, I don't think we are there yet, and maybe by some way. The reason is all to do with why things are happening the way they are. It seems to me that we are in phase two of this crisis and there may be many more phases to come. Phase one was the Bank generated bubble bursting. Blah blah blah, banks are greedy, politicians are short sighted. Phase two is the rush for liquidity. Global and local business is having a fire sale in a rush to get liquid so that they are not sucked into the vacuum that the Banks' troubles are causing. You sell what you can, that which is liquid. Stocks and currencies. I couldn't understand why the £ and the Aussie $ were taking such a hit against the US$. After all, it is particularly the US economy that is in the mire. But the simple explanation is that those who were holding foreign currencies in the US are selling them and getting less for their $. This will ultimately be bad for the US economy, however if you are sitting on $ deposits, I would look at some foreign currencies. The same with stocks. There are some bargains no doubt in the NYSE, but personally I am now looking at areas that have been over affected by the US' woes. I can see global investors avoiding the US for some time. Another phase will be what happens to fixed asset values, such as homes and factories, when they need to be realised. It doesn't look good.