Paul Krugman: Hey,D.C.,the sky is falling! Oy!

collage by marguerita
Somehow, Washington has lost any sense of what’s at stake — of the reality that we may well be falling into an economic abyss, and that if we do, it will be very hard to get out again.It’s hard to exaggerate how much economic trouble we’re in. The crisis began with housing, but the implosion of the Bush-era housing bubble has set economic dominoes falling not just in the United States, but around the world.Op-Ed Columnist - On the Edge - NYTimes.com