[lbo-talk] NY Times: "How Obama Reconciles Dueling Views on Economy"

[Joseph Catron]

"As Barack Obama prepares to accept the Democratic nomination this
week, it is clear that the economic policies of the next president are
going to be hugely important. Ever since Wall Street bankers were
called back from their vacations last summer to deal with the
convulsions in the mortgage market, the economy has been lurching from
one crisis to the next. The International Monetary Fund has described
the situation as 'the largest financial shock since the Great
Depression.' The details are too technical for most of us to
understand. (They're too technical for many bankers to understand,
which is part of the problem.) But the root cause is simple enough. In
some fundamental ways, the American economy has stopped working..."

http://www.nytimes.com/2008/08/24/magazine/24Obamanomics-t.html

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