Time to Get Off the Pot

Krugman, as usual, has a clear and completely understandable discussion of where we are and why something needs to be done this weekend or we could find ourselves in even deeper guacamole.

What should be done? The United States and Europe should just say “Yes, prime minister.” The British plan isn’t perfect, but there’s widespread agreement among economists that it offers by far the best available template for a broader rescue effort.

And the time to act is now. You may think that things can’t get any worse — but they can, and if nothing is done in the next few days, they will.