Monday, May 25, 2009

The Meltdown: The Story So Far

If you haven't seen I.O.U.S.A yet, you can watch a 30 minute speed version. There don't appear to be any more public events scheduled, at least on the website, but if you have a documentary night in your library, you may want to include this movie to your roster.

Once you've tackled that, take a look at this article from the New York Review of Books, where Bill Bradley, Paul Krugman, George Soros, Nouriel Roubini, Niall Ferguson and Robin Wells comment on what happened and what is coming. Since you have watched I.O.U.S.A you will be struck with shudders when you read: seems reasonable to anticipate a much more rapid explosion of federal debt to somewhere in the region of 140 or 150 percent of gross domestic product.

It's enough to make you want to go back to bed sometimes.

But in the world of better news, and because I work amongst many Krugman fans, when he says, things are improving, I am happy to make link to The Man.

More about Paul Krugman.

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