The Council's annual report provides an analysis of the previous year's economic performance and a reckoning of what's to come.

FORBES: White House Report Says Economy Will Rebound In 2008

Third, like the ITV Digital palaver in the UK, Kirch's troubles represent the final reckoning for the economic exuberance of the 1990s.

BBC: Q&A: Kirch's insolvency

At some point, there has to be a reckoning of these expectations with underlying economic reality.

FORBES: Unrealistic expectations