The housing bubble, petroleum costs, personal savings, debt

Krugman on the bursting of the housing bubble: http://www.nytimes.com/2005/08/08/opinion/08krugman.html?? Krugman notes that the personal savings rate has fallen to zero.


Kunstler, in a florid mood, covering it all at once: http://www.kunstler.com/mags_diary14.html