Last year at this time, just as we began our descent into a global recession. Of course, we didn’t know that at the time. But those who read Phillips’ book from last spring, “Bad Money: Reckless Finance, Failed Politics and the Global Crisis of American Capitalism” might have had a clue.

He spoke with us in front of a live audience in Litchfield, and told a harrowing story of impending financial meltdown. Well, now the book’s out in paperback – with a new preface and afterword – and a word of warning about the Obama administration’s handling of the crisis.

Today, where we live – Kevin Philips on why "we're in a full blown, once-every-several-generations crisis” – and hopefully some ideas about how to get OUT.