Capitol Hill Blue Forums Political Issues Finance, the economy & Economics How will the financial crisis develop?

Americans are beginning to understand how much of their economy depended on the housing bubble. The collapse of housing prices has led to a collapse of consumer spending, which leads to a rise in unemployment, which in turn erodes the value of commercial property - and so the destruction of wealth spreads. Barack Obama will take office as the most powerful peacetime president in US history - he will be the only man in town with a checkbook.