Ya'll know I'm a diesel mechanic gone digital, not an economist. Still, this thing is big. And more than just big, it's fascinating because the damage control is being done in real time by panicked leaders and companies. The opinions are thicker'n skeeters in Louisiana right now, and not just from pundits. The average Joe has an opinion, the pundits are changing their opinions, congressmen have opinions, and it just so happens we have a quartet of presidential candidates with opinions.
It's absolutely enthralling.
In a, "Wow, my kids might grow up in the stone age," kind of way.
Anyway, here's a link to Michael Kruse summarizing his opinion of the steps that got us here.
I live in a world of linked data points. The more points you can make jive together, the more likely you've got a useful opinion. Michael is the first guy I've seen link every point. He indicts Democrats, Republicans, lenders, free markets, regulation, and greedy Americans, but that's no big deal. Everyone is doing that. He does it in the right way. He points out what they did, and why they did it - actually why I might have done it myself if I were in their shoes.
I respect and can use an opinion like that.
And, for the record, you might enjoy the video at his post, too. :-)
A Prophetic YouTube Post