Letter of Credit Forum

This pop-cultural reference to Supertramp's 1975 album raises some
questions regarding the perception of current events. On the one hand I have the impression that everyone talks about the crisis but the understanding of its causes and consequences is equally limited as Franz Kafka's reaction to Germany's declaration of war against Russia on August 1, 1914:
"Germany has declared war on Russia.-Afternoon swimming lessons".

We have all followed layoffs and dire predictions; however,  few comment on the fundamental shift of policy in the United States from a country that was proud of its invisible or rather non-existant hand meddling in free markets to politicians nationalizing banks, insurance carriers and heavily subsidizing other industries. 

For years the United States has advised other countries on how to establish free markets, now it does not want to take its own medicine. Decades of economic study have  been tossed within the blink of an eye.

Few analyses exist investigating the repercussions for individuals.
The trillion dollar bailouts: who is going to pay for them and when and how ?

How is a country whose GDP depends 70 % on consumer spending recover when the  line of unemployed is getting longer by the day ?

Which business will see its customers able to pay the bills ?

When will banks start lending again ?

Even though the answers are difficult, let's be better than Kafka and where our powers of analysis fail, persistently demand from our elected representatives, the media and the government to inform us properly.