In anticipation of this, you may want to read up on exactly what has been going on. For the background, or the "how-did-we-get-here," there are several good sources. This post by economist Arnold Kling lays out a thumbnail of the basics. The guys over at Marginal Revolution have also done many good background posts on the situation; just scroll down and read what sounds useful. Another great source is Real Clear Markets. There, you will find the gleaning of a lot of the best reportage and comment on finance and economics in general and the happenings of the last week (and its roots) in particular.
I would also especially invite Kevin (Molly, if you read this, nudge your husband and get him over to the computer) to comment, as he is a financial professional (while I am more of a former professional and amateur economist) and one really smart guy.
As you do this reading, keep in mind one of the favorite sayings of the old-timers on the trading floor where I used to work:
- "The world only ends once, and this ain't it."