American Economy: The Perfect Storm

As pretty much everyone knows by now, the American economy is in bad
shape, and it looks like things are going to get a lot worse. We are
all familiar with the general reasons for why we have ended up where we
are – i.e. excessive borrowing, overly loose monetary policy leading to
two consecutive bubbles (the internet bubble and the housing bubble).
What might not be so obvious is how all of this is going to play out
from here.

Read the full story here.