People say that economy is bad in the US and the world. I nevertheless believe that this is just the beginning. We may end with a far bigger mess than we even anticipate. The packages that we have seen currently from the Governments are really more to “sweep” the mess under the carpet, as it were… NOT to solve the crisis. In fact, with countries and large bodies – not just corporate entities – going bankrupt, I find no parallel in the known history that this time can viably learn from. So, whatever people say is part nonsense and part wishful thinking!
Here is an excellent discussion by this guy NAsser Taleb author of “Black Swan” and his mentor. It is interesting to see how totally taken aback the interviewer is. You might also find this another discussion by Taleb interesting, where he tries his desperate best to explain things to a rather dumb blonde on BBC!