Time will tell whether this is merely a case of the Street going full on Bearish. Which has often proven to be the case.

But be that as it may, there can be no doubt that we are looking over the potential of a deep economic chasm. And things certainly look bleak at the moment.

However, if there is one thing that we've learned in our years on this mortal coil, it is that things are never quite as dire, or quite as positive as they first appear. And now is no exception.