You're right George. We'll come out the other end of this in time. Those not in debt and sitting on cash right now are doing great, but unfortunately represent the minority. Debt and greed (government, corporate, and individual), has turned a normal capitalistic downturn into a nightmare for many.
In the early and mid 80's inflation was 12% and interest was above 20%. Paul Volcker was Chairman of the Federal Reserve at that time. Guess who's now working for the current administration?
Great time to be a buyer and not a seller, as seen on the classifieds.