2008 Stock Photo Market Crash?

2008 will be remembered for the housing and mortgage market meltdown, but will it also be the year of the stock photography market crash? There's no doubt in my mind the industry has been in a "bubble" for the past few years. I see similarities between the "internet bubble", the current housing market meltdown and the state of the stock photo industry. All were fueled by cheap money and speculation - mixed in with a dose of "irrational exuberance". Of course, I'm not an economist, so this may be an over simplification. But here goes…