Bush's war and the Egyptian elections
The fear of clowns is known as Caulrophobia. Quite simply, I think it's very valid because they're the product of a diseased mind. The sheer number of sites dedicated to clown-bashing is proof that I'm not mad (ok, maybe not proof, but certainly credence). I've even included four of my scariest clowns for your sheer terror.
Also, check out I Hate Clowns and Scary or Not