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If you’re like me, you’re spending a lot of time these days talking about the economy and politics. Every time someone’s expressed some kind of desire or wish that they understood better what was going on in the markets, I’ve pointed them to this post.

In it, Rich Toscano explains only one part of what’s going on now. But it’s a big part and he wrote it in early 2007. Once again, his prescience proved to be a bit alarming.

So if you’re interested in a very simple, easy-to-understand description of the one of the pieces of this rather disgusting economic pie we’re all eating right now, give it a look. There are few windows into the belly of the financial world this clear.

Rich updated that 2007 post here.

SCOTT LEWIS

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