Category Archives: U.S. Economy

Last summer, when US capital markets began to freeze up, total market capitalization was $19.1 trillion. US market cap at yesterday’s close was $13.3 trillion, a drop of $5.8 trillion over 14 months, roughly $100B billion per week. In previous … Continue reading →

My friend Sonia Arrison, the technology wizard at Pacific Research Institute, asked me to give her my current thinking about how to analyze the current credit crunch as a cascading network failure, a subject I wrote about in Chapters 6 … Continue reading →