I just came across this excellent quote in an article at
http://www.financialsense.com/fsu/editorials/sutton/2009/0227.html
It sums up the situation fairly well:
"In the end, the financial crisis of 2007-? will be summed up as a fairly simple process:
1) Confidence shaken
2) More debt accumulated to maintain confidence
3) Confidence further shaken
4) Even more debt accumulated
5) Confidence lost BECAUSE of all the debt accumulated ""
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