The shadow of the 1929 depression and the ferocity of the current crisis, and its ability to snowball into something very similar. I had a post on this a few weeks back, a similar view echoed here:
BBC Link: http://news.bbc.co.uk/1/hi/uk_politics/7880189.stm
This crisis definitely has the capability of developing into a Depression, if left unchecked. The point worth seeing is whether central bank and government action worldwide actually steers us clear of this back into prosperity or actually worsen the situation.
Earlier link claiming this can snowball into a depression here:
http://equitideas.blogspot.com/2008/10/are-we-returning-to-1929.html
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