The upheaval in financial markets has left many Americans stunned. How could this have happened? Even worse, how could this have happened with so few people giving us any kind of warning that it was possible? I certainly did my best to tell everyone, but in the end there’s only so much anyone can do. Now I’d like to explain why I think this happened and why the Five Crises are so tightly related – and what we can guess this will mean in an election year.