I have been having a lot of ‘state of the economy’ conversations lately. The consensus is that we are going in the wrong direction and the only question is how long, how deep and how prepared we are for the long haul. I made the observation that the economic consequences of a recession are only part of the problem. A recession is a trust issue. When credit dries up, it means that lenders don’t trust the borrowers to keep their commitments. It creates a kind of double-bind. Here is how it