Explaining the recession

As someone who is educated and attempts to keep up with local, national and international news,  I largely understand the how and why the economy has  changed this past year.  Today at work, I was having lunch in a co-workers office.  He's in his 40's and works a managerial position in our service department.   We were discussing the fact that most companies, including ours, were electing to not give annual bonuses.  Out of the blue, he looks at me and says, "I honestly don't understand why the economy is so bad, how did it all happen?"  

I looked at his eyes and he was genuinely asking for my help.  First, he didn't understand how the housing market had so many foreclosures, so we started there...with the bad loans (oh, those ARMs).  We talked for about 20 minutes and I used real world examples of how the housing foreclosures effected the financial sector which effected banking's ability to lend to other businesses and individuals which effected consumer purchase power, payrolls, etc. Basically we talked about the trickle down effect.  

After lunch, I felt good.  Not because I knew what was going on or could explain it in a synopsis.  But because he now understood why his life has changed.   He understood why I was cutting 10-15% out of his repair and maintenance budget.  He understood why it was necessary, for the first time, to cut out discretionary benefits like bonuses and profit sharing.  

This impromptu lunch/lesson led me to think that there must be so many others who don't understand the how and why of this recession.   Today, people work so many hours, even two jobs, so if someone at work isn't having a lunch and learn w/ them, who's explaining this mess to people who don't read the blogs I do, don't spends an hour a day reading online news chatter, or don't have my education/background in real estate?  I wonder how many people are frustrated, not only with the lack of bonus, but with not knowing why.

The American public is made up of such a melting pot of citizens, all should be educated on what is happening to them, shouldn't they?