Will satellite collision trigger orbital chain reaction?

"This injection of debris substantially increases the population of space junk at altitudes near 800 km. Collisions are now more likely than ever. Fortunately, the International Space Station orbits Earth at a much lower altitude, 350 km, so it is in no immediate danger. The Hubble Space Telescope is not so safe at 610 km. In the days ahead, researchers will carefully study the make-up and dynamics of the debris cloud to estimate when bits will begin to drift down to lower altitudes." from spaceweather.com

We had two major satellites crash, producing lots of debris. As is stated above, "Collisions are now more likely than ever." Now these collisions would create more space junk thus again raising the probability of collisions - exponentially if the current collision only causes two more satellites to be destroyed.

"The Soviet Union launched the first artificial satellite, Sputnik 1, in 1957. Since then, the United States and about 40 other countries have developed, launched, and operated satellites. Today, about 3,000 useful satellites and 6,000 pieces of 'space junk' are orbiting Earth." from World Book. Chicago: World Book, 2004.

This was before the current crash, 6000 pieces of rogue space junk were recorded, don't you think we might up for some sort of orbital demolition derby?