Well I work for a software house attached to a fairly small independant stockbroker.
I've been keeping an eye on the recent activity on the market and from a business point of view it's not too bad for us. (However people without money dont invest in shares).
The nasty thing I see is the way the banks could fail.
1) After lending money foolishly to allcomers the banks realise that they are going to have to just write off lots of money. They wont get it back.
2) Some banks had worse positions than others, the public find out.
3) People start taking money out of the banks in question.
4) Other banks wont lend money to the troubled banks.
5) The banks dont have all the money to pay their customers (most of a banks money is tied up in long term loans to building developers)
6) Bank folds. People get wary of other banks. Rinse and repeat.
7) Building developers, Oil exploration, anything that needs a lot of money to do new stuff can't get the money.
8) Everything stops.
9) People get laid off.
10) People then spend less, which means more shops close, shed workers.
11) Shit hits the fan and we all die...
Pretty scary if you ask me. A farm seems like a good investment to me at the moment