Pieces of Eight

Only a few, Krugman notably, have kept saying, contradicting the Rand-ians, that the Great Recession is due only to governments run amok (the intelligent understand that this only describes Greece). He frequently points to Spain, where, he says, the problem has always been corporate debt. But without details. I have read from a few others, similar. Well, todays NY Times business page tells the details. Worth reading.