A financial crisis, not an economic crisis

Could have fooled me, but here's what an expert says. And wasn't it the experts that got us into this mess?

It turns out that John McCain, who was widely mocked for saying that "the fundamentals of our economy are strong," was actually right. We're in a financial crisis, not an economic crisis. We're not entering a second Great Depression, says Casey B. Mulligan is a professor of economics at the University of Chicago.

How do we know? Well, the economy outside the financial sector is healthier than it seems.Daily Policy Digest, digesting Casey B. Mulligan, "An Economy You Can Bank On," New York Times, Oct. 10, 2008