Well, Americans are finally starting to figure out that we're in a really bad recession. Deflation, which only a few were predicting a while back (remember?), is now a bandwagon pick.
Some of the economics/finance-related blogs I follow read like this tonight:
On the bond market's swings, Across the Curve:
"I have done this for nearly 30 years. I have never witnessed this before."
On "deeply troubling" news that all the Fed actions have not succeeded in bringing down long-term real interest rates, Mankiw says:
"What is the Fed to do (other than pray)?"
Brad Setser on the overall picture:
"There is now little doubt this is the worst financial crisis since the Great Depression."
I'm thankful I have next week off.