Okay, so it looks like we're headed for a recession. Alright then, we're in a recession. Whaddya want, you want me to say, "this is the worst financial crisis since the 2nd World War"? What was the financial crisis before then? Oh, yeah...the Great Depression.
Well, that's what some say is going on. I'm not a wall street guy. I don't get simple math, let alone high finance. But there was a remarkable interview on "Fresh Air" with a guy who was able to explain the current crisis in simple terms. I mean, it was almost fun, to be able to get my mind around everything that's going on. Almost fun, except that the news is pretty grim.
However, I thought it was important enough, and enjoyable enough, to let you know about it.
"Fresh Air from WHYY, April 3, 2008 · Perplexed by the U.S. economy? You're not alone. Law professor Michael Greenberger joins Fresh Air to explain the sub-prime mortgage crisis, credit defaults, the shaky future of other types of loans and what we can expect from the U.S. financial markets."