A reader kindly sent me an email detailing the terrible difficulties their son faces trying to pay for his education. Also, we get more details about the government's bailout of people who went way over their heads in debt using their homes as ATM machines. It is clearly a NO GO. Won't work at all. Easy to explain why. And world markets are in a panic. Even the commodity markets are now spiraling down the drain. Time to understand what went wrong and where it went wrong. More banks, by the way, went belly up in the last 24 hours. There are a few thousand more to go. Alas. America is NOT capitalized. We were cannibalized.