Economic Principals struck out swinging on an attempt to write about the topic of the $1.3 trillion bridge loan that the Federal Reserve wrote Thursday to the money markets.

The turbulence, apparently mostly in $74 trillion market for corporate debt, was queasy-making, but nothing like the 2008 panic that threatened to destroy the global banking system.  For a good account, see “In a Sea of Debt” in The Economist this week.

Back next week.