Krugman on Recession

http://www.nytimes.com/2008/02/08/opinion/08krugman.html?th&emc=th

Today's Krugman column is excellent. I've held this view for awhile now and I'm sure you've gathered that I think we're headed straight for a recession, and not a mild one. This helps explain why - which leads me to my second point, the candidates need to start talking more about the economy. Unfortunately, we are in a period where we need a leader who understands all of the forces in play. But, I think we're also going to need to question our own behavior, particularly as consumers. I read another article today alleging that Wal-Mart gift card holders are using the cards for necessities, NECESSITIES! Typically, gift cards would be used for iPods, dvds, etc. Retailers apparently had their worst January in 40 years. And this is all small beans compared to the China problem. Seriously, everyone should be educated about at least the basics of our economy and what it is going through now. And our next leader is going to need a good sense of what's happening with the economy and some VERY good advisors.