All You Need To Know About The Economic Crisis

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Ben Cohen
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By Ben Cohen

Confused by the economic crisis? Don't know what a credit default swap is, or a derivative? Paul Krugman explains How we got into this mess, why we could have avoided it, and how to get out of it:

I'm tempted to say that the crisis is like nothing we've ever seen


before, but it might be more accurate to say that it's like everything


we've seen before, all at once: a bursting real estate bubble


comparable to what happened in Japan at the end of the 80s; a wave of


bank runs comparable to those of the early 30s; a liquidity trap in the


US, again reminiscent of Japan; and, most recently, a disruption of


international capital flows and a wave of currency crises all too


reminiscent of what happened to Asia in the late 90s.