An amazing array of difficulties has become aligned against the economies of the U.S. and Canada – from falling stock market indices through high oil and gasoline prices, persistent inflation problems, housing starts in retreat and upward pressure on interest rates. Add to this list, questions about the financial future of Fannie Mae and Freddie Mac, the credit crunch and auto demand in reverse. One can only hope that the current situation corresponds to the darkest part of the night, just before the dawn.