The first link is to yesterday's analysis of the state of the credit/money markets. It is a grim report with much support from this morning's news 24 hours later.

Nouriel Roubini: Update on Financial Crisis

This link is the white paper previously posted here outlining the path we were apparently on since 2006. Given the historic developments of the past days and hours, it's worth revisiting.

12 Steps to a Financial Meltdown
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"Corporations have been enthroned, and an era of corruption in high places will follow, and the money power of the country will endeavor to prolong its reign by working upon the prejudices of the people until the wealth is aggregated in the hands of a few, and the Republic is destroyed." -- Abraham Lincoln "America will never be destroyed from the outside. If we falter and lose our freedoms, it will be because we destroyed ourselves." - Abraham Lincoln -