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roachboy - I think you're missing what he's saying. For you, it's a social thing, with the elites cheating on the lower classes, the media, etc. Johnson is looking at internal reasons for the recession. Personally, I think that the social aspect, however important for, well, people, is really secondary to the causes. And while the whole thing might have started internally, what the economists have somewhat missed is the degree in which the U.S. economy is a part of a larger system.
If you've read Asimov's Foundation, you'll see where I'm going with this. We're seeing the end of a crisis - an end of something that was brewing for the last 15 years. He mentions Korea and Malaysia, but there also was Japan and numerous other countries that should've set the red light flashing years ago, but our tools we use to analyze these things are not sufficient for a system this complicated.
And all these names come up, but I've got a feeling people overinterpret just how important single people can really be in something as immense as this. It's always easier to talk about single people, because it;s the water cooler thing - it;s just someting we do - but in the end it really doesn't matter. The media and elites cheating on the public thing? That's just a zit of the whole thing - insignificant, something to keep y'all busy.
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