Scared yet?

How about a gold ol' run on the bank in Eastern Europe to further destabilize the world economy:

Stephen Jen, currency chief at Morgan Stanley, said Eastern Europe has borrowed $1.7 trillion abroad, much on short-term maturities. It must repay – or roll over – $400bn this year, equal to a third of the region's GDP. Good luck. The credit window has slammed shut....

"This is the largest run on a currency in history," said Mr Jen.

My friend Judd gave this presentation at UT last week, describing how hedge funds are to blame for this mess, starting with the assault on Bear Stearns and Lehman. Will be interesting to see if some of these guys end up frog-walking a la Kenneth Lay before this is all said and done.

How's that food storage coming along? Sure wishing this cursed house would sell...