The economic situation

Mike Whitney's interview with Michael Hudson, How the chicago boys wrecked the economy.

This interview is very interesting and almost certainly very important. Will the economic troubles in the US turn into a total financial meltdown? Maybe, maybe not. But many aspects of the current situation defy common sense, and survive only because powerful people are able to make it so. If that power dissipates, watch out.

Note that Obama's economic team includes those who are part of the powerful elite that can impose there will on the financial system.