Following my update, I have included an article from one of the foremost economic analysts of our time, Ambrose Evans-Pritchard. He called the subprime crisis just 6 months before it hit, and this weekend came out with extraordinary comments about the banking and currency crisis hitting Europe and parts of Asia right now. The reasons why his warnings are important will be obvious, and it’s important to remember that just as the US appeared to coming out of the Great Depression in 1932, a foreign banking and currency crisis helped to push the US back into a Depression that lasted another eight years. We live in a global economy that is interconnected more than at any point in history, and as difficult as it is already going to be for the US to recover from the recession/depression at hand, any kind of global meltdown will make the recovery that much more complex and lengthy.

Economic Update

I’ve yet to see a single economist that I respect come out and support Obama’s stimulus progr...