Saturday, January 17, 2009

Why is it called a credit crunch?

Although there is certainly no shortage of reporting on our current worldwide economic woes, I still have felt that I couldn't quite grasp the big picture. This audio slide show by the business editor for BBC World News is the best summary, by far, that I have seen.

"Living Beyond Our Means" might be a good phrase summarize the root of the problem.
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