If you want to see one form of how great blogging can be (and in the meantime learn a lot about how perilously close the world economy is to meltdown) check out the parallel and intertwining threads on
Noriel Roubini's global macroeconomic blog and
Brad de Long's blog. Here we have a running high-level debate about just how hard the economic landing for the U.S. will be, when, and what it'll look like. Suffice it to say the prognosis isn't sunny. Not surprisingly some of the best analysis (and, of course, writing) is supplied by Billmon in comments. To quote one comment from the thread(s) I wholeheartedly agree with: "
This has been such a good thread - it even lured Billmon out of his bunker. Thanks to DeLong and Roubini and everyone else." A must read.