To prevent further and more irreparable damage to the U.S. economy, we need two things. Some tough minded public officials, who will recognize that the actions taken are worse than doing nothing, and back off. A responsible media that will stop trying to frighten the public out of it's wits (if any).
Since we are going to get neither, and the odds are that we will continue to take useless half measures through the coming flu season, the country appears to be facing a self inflicted depression.
If we are become a nation of weak kneed sisters I guess that's the way it must be. So portfolio protectors need to identify the nations which will be the winners and put their money to work where there is less of a chance of losing most of it.,