Economic downfall.

Re: Economic downfall.

These videos make understanding of ‘what happened’ easier, but still a bit technical:

For a for more formal explanation:

http://www.brookings.edu/~/media/Files/rc/papers/2008/11_origins_crisis_baily_litan/11_origins_crisis_baily_litan.pdf

How long? Maybe keep reading Krugman’s blog!

Economics and Politics - Paul Krugman Blog - NYTimes.com

Cuz he did predict dot-com bubble…

RECKONINGS; The Ponzi Paradigm - New York Times

and the housing crises

http://www.nytimes.com/2005/08/08/opinion/08krugman.html?_r=1&scp=18&sq=krugman+housing+bubble&st=nyt&oref=slogin