Wow what happened to the economy?

I gave you my two cents about our current financial situation on Wed. and today we get cold cocked with over $9 hike in oil and the markets taking a dump. I knew we were headed in that direction. I thought it would happen a bit more gradually than it did. You know of course what this will do for corporate spending? The short version : " The firings will continue until the economy improves!" Eeek I saw this happen in the early 80's and it's not pretty. Anybody out there remember their parents or grand parents tell them about the "great depression"? That will seem like a picnic compared to what is on the horizon. Think it's bad now wait a month or two.