Ok, so the US economy is "collapsing". I'm not an economist, but that can't be good. The DOW dropped 300 points in 10 minutes this morning (2.3 %), and the stock exchange in Oslo was down 7 percent this morning, as well, I heard.
Paul Krugman, world-class economist and newspaper columnist probably has some words to inspire us and calm us down, right, Paul?
Will the U.S. financial system collapse today, or maybe over the next few days? I don’t think so — but I’m nowhere near certain. You see, Lehman Brothers, a major investment bank, is apparently about to go under. And nobody knows what will happen next.
*Much, much more, most of which I do not understand, in this linky post.