We are going over the edge

As we’re glued to the presidential debates and awaiting the congressional vote on the bailout (coming up in just moments and airing live on MSNBC and Fox right now) NYT’s Paul Krugman warns this morning on his blog: "we are going over the edge."

A grim morning

Double plus ungood news on multiple fronts this morning.  The credit crunch is getting worse: LIBOR jumped again, the TED spread is at a new record….

We are going over the edge.