this series--the big freeze--has been appearing in the financial times over the past days and is an interesting, detailed analysis of the chain reaction of crises beginning with the sub-prime mess and ramifying outward.
the series is way too long to paste up here, i think.
if you follow this link:
FT.com / In depth / credit squeeze anniversary
you should get to it--you may have to subscribe to the paper, but it's free with certain limits on the number of articles you access per week.
there are some interesting claims: straight away, this whole scenario, the nested crises, are likened to the japanese financial crisis of the 1990s.
the second and third segments develop the argument that the current interpretations of what is happening economically is upside down. the claim is interesting, but i am not sure about the argument, whether it demonstrates the claim.
for the moment, i'll leave this here---i want to see if folk are inclined to read this and if so, whether they have problems with access---if there are problems, i can figure out another way to make this available. at that point, i'll post some questions that i am trying to figure out--but feel free to pose your own.
there's alot of information here, so the thread may be a bit slow to develop.