How crunched can we be?

I wonder what comes after a crunch? When does a recession become a depression? Anyway the ongoing turmoil in the money markets means there is no recession of blog posts on the subject. My last round up is here.

• William Willimon calls for a rediscovery of thrift
• Adrian Warnock ponders on debt
• Cranmer dislikes the revival of socialism that seems to be happening
• Jon treats loan companies with disdain here and here
• God's Politics has lots of posts here
• Dave chimes in and links to a helpful talk by his pastor
  

If the USA was a household with credit cards - it would like this (HT: Tim Challies) and the BBC have a good round up of stories here