Are You Confused About the State of the Economy?

You may or may not agree with me that we are witnessing a major once-in-a-lifetime seachange in the economy which will have (already has had) a profound effect on our lives. I have developed a thesis about what's coming, but I won't elaborate on that here. I simply wanted to pass along a couple of links that may help you to get your head around what has been happening in the global markets, the economy, and the finicial crisis. They provide a good rearview mirror view of the events that got us into the current crisis, and define a lot of the terms which have popped up in the general media lately - Credit Default Swaps (CDS), Collateralized debt Obligations (CDO), Mortgage Backed Securities (MBS), Glass-Steagal Act, Troubled Asset Relief Program (TARP), etc. See:

http://www.caseyresearch.com/library/articles/2374/hell,-meet-handbasket-11-7-08/

Another instructive article written by Nouriel Roubini published by Bloomberg on October 23 is very interesting:

http://www.rgemonitor.com/roubini-monitor/254130/bloomberg_october_23_2008_roubini_says_panic_may_force_market_shutdown_friday_morning_update_markets_are_becoming_dysfunctional_and_sp_and_djia_futures_trading_already_suspended_today
You will need to register to read the entire rticle, but, in my opinion, Roubini is one of the most astute individuals at deciphering the big picture and explaining it in understandable terms.