Around the world the news has been bleak about the state of the global economy, which is what most countries depend on to maintain day-to-day operations and to promote hope for those who struggle to survive.

You do not have to come out of the world's most elite accountancy schools, to know that no one can subtract six from four.

In simple terms when there is a global financial crunch, with major institutions on the brink, and numerous banks going under, along with jobs, the impact on the common man begins to take its toll.

No country, not even Bermuda, will be able to avoid being caught in the fallout from what many experts are saying is a world recession in the making.

The recent Wall Street bailout will probably ease some of the bleeding, but it is not thought by some experts to be sufficient to save the patient, which of course is the United States overall economy.

Stock markets around the world opened this week in a sea of doubt as the markets wobbled in the face of even more banks running into trouble.

What on earth does all this mean? For starters, too many giant financial institutions may have bitten off much more than they could chew, to put it bluntly, in order to appear stronger than they actually were.

What should be of deep concern for Bermuda is that much of our economic progress is tied to the United States through tourism and international business.

If the current downturn continues, Americans will travel and spend less and we know what that means for our tourist industry.

Plus there is still a question mark over how a new US administration will view companies operating overseas to avoid taxes.

No one wants to paint a picture of doom and gloom, but on the other hand to protect and preserve our assets here in Bermuda, we will require much more than politics.

A frank look at the situation and what could be done to solidify a sound future, should be the top priority of all of our leaders.

On a nice sunny day everything might look just great, but it could be like trying to barbecue in the eye of a hurricane. Perhaps the financial experts can throw more light on this subject, but the ordinary citizen is becoming increasingly concerned about the future. For example in Japan the suicide rate is expected to climb as more and more people cave in under pressures of the day.

Fear of job losses and failure has sent so many to the cliffs that one man spends most of his time in areas used a lot for jumping, trying to talk people back into the fold of life. He is credited with saving over 100 lives.

While everyone will not take that course of action, there are many around the world suffering from crumbling dreams as savings, homes and pensions have been washed away by what some describe as corporate greed and scandalous manipulation of figures in too many financial operations.

That's one reason for the bitter criticism of Wall Street, where many feel the big boys played their money game at the expense of the average worker.

Only time will tell whether the big bailout by the US Government, will turn the tide.

In fact some people feel the instigators were let of the hook, and that some company heads should be facing more than fraud charges.

Whatever the outcome, it boils down to a war by the powerful to survive with the common man caught in the middle.

All of this comes in the final stages of a US Presidential election that is beginning to boil with racial undertones and nasty politics as emotions run high.

With polls suggesting that Democratic candidate Barack Obama could pull it off, the GOP seems determined to stop at nothing to reverse that trend.

How all this will play out is up for grabs, but irrespective of who wins, the global economic plight will still be with us.

That means Bermuda will be at risk along with the rest of the world. Our leaders cannot play political games here, our future is at stake.