The papers and the tv are full of stories about the sharemarket crash on Monday.
There are fears of a global recession, or at least an economic slowdown.
The US situation looks pretty gloomy, despite George Bush announcing some taxcutting policy to keep the spenders spending.
In the UK, the state of the housing market, the government intervention into the Northern Rock finance house is causing jitters.
But i saw somewhere that Australia looks set to be safe as it's economy is strong.
I haven't seen much about New Zealand but the Kiwi dollar seems jumpy.
What about New Zealand? Will New Zealand survive a global downturn or recession?
And if 2008 is tough, what will the impact be politically?
Even in the best economic circumstances in a generation, which we have seen in recent years, Kiwi living standards have barely changed.
Now, we also face higher fuel costs and food prices are rocketing thanks to the Indians and Chinese having the means to eat better and biofuels production taking land out of food production.
It all points to tough times ahead.
How will New Zealand fare and how much will Liarbour get the blame.
For Gordon Brown at least, the omens in Britain are not good.
He has had seven fat years but did not put anything aside for the lean years to come.
At least Michael Cullen can say he has.
July 1 in history
4 hours ago