The Financial Meltdown

I'm not going to say much of anything about this, because other people are covering it far better and in far more detail than I possibly could. For more news and analysis than you probably want, I'd recommend the following:

Paul Krugman's blog (I'd also take a look at Krugman's columns in the New York Times, including--especially--his most recent one).
Economist's View (Mark Thoma's blog)
Econobrowser (Jim Hammilton and Menzie Chin)
Brad DeLong's blog
Calculated Risk

That should keep you busy for a long, long time.