One thing it will do for sure is continue to weaken the dollar which in turn will push up the price of fuel even higher. I contend the higher gas prices have more of an impact on a day to day consumers than anything else going on in the markets. Upper income Americans can afford to ride this out and take advantage of some of the cheap capital and property in the short run. Joe 6-Pack is hurting at the pump and his beer cost's more as well as a result.