Apocalypse now or later? What the stock market collapse means and what the Fed fears most

The American economy is too financialized to withstand any sustained drop in asset prices

It's carnage out there in the markets, and things have been moving with the force of a tsunami.

Japan's Nikkei 225 plunged more than 12% on Monday in what was the biggest single-day drop since 'Black Monday' in 1987. As of