Like most of us I am watching the financial crisis unfold. I do feel like I’m walking across the beach after the sea has gone away and looking at all the strange things we couldn’t see before. Things like, naked Short selling, CDS’ and Commercial Paper. I even found myself using the phrase ‘financial instrument’ not so long ago. All the time I wander on this beach, overturning rocks and digging at sand worms with my toes I am aware that it is only here because a disastrous tidal wave is coming.
My first major insight into how the crisis started came in May with an NPR radio show in the series “This American Life”. The show was called The Giant Pool of Money and even though you will have to pay for it now, it will be the best 95c you ever spent. This show, in very simple terms, explains how the mortgage crisis has impacted us and how it came about. This American Life followed up that show in October, with a show called “Another Frightening Show About The Economy”. Again 95cents but this show explains the CDS issue.
One thing in this current financial climate is the amazing speed at which things are happening. Stuff which would previously have headline news for months barely makes it to the front page. At least three high street banks have been bought for pennies. The US government and its people have shares in banks! In a run up to an election! In another time this would have been the hottest topic and would dominate the election for the entire race but now everyone shrugs and seems to accept it.
The last radio show/podcast I want to talk about is NPR’s Planet Money podcast, which is almost a spin off from the two This American Life shows. There have been a few I have really enjoyed and a few that slipped by unnoticed. However one recent show I really liked is this one. The really interesting (to me) part is the interview with the postal worker who wanders around Seattle delivering mail and reading between the lines.
Finally, just remember this: Even as this credit/mortgage crisis unfolds and as the inevitable recession, or even depression, swallows us up, we will still be loved and we will still be able to love others – money isn’t everything.
Hope this helps.
<Enter stunningly witty and clever tagline here>
Bazza
My first major insight into how the crisis started came in May with an NPR radio show in the series “This American Life”. The show was called The Giant Pool of Money and even though you will have to pay for it now, it will be the best 95c you ever spent. This show, in very simple terms, explains how the mortgage crisis has impacted us and how it came about. This American Life followed up that show in October, with a show called “Another Frightening Show About The Economy”. Again 95cents but this show explains the CDS issue.
One thing in this current financial climate is the amazing speed at which things are happening. Stuff which would previously have headline news for months barely makes it to the front page. At least three high street banks have been bought for pennies. The US government and its people have shares in banks! In a run up to an election! In another time this would have been the hottest topic and would dominate the election for the entire race but now everyone shrugs and seems to accept it.
The last radio show/podcast I want to talk about is NPR’s Planet Money podcast, which is almost a spin off from the two This American Life shows. There have been a few I have really enjoyed and a few that slipped by unnoticed. However one recent show I really liked is this one. The really interesting (to me) part is the interview with the postal worker who wanders around Seattle delivering mail and reading between the lines.
Finally, just remember this: Even as this credit/mortgage crisis unfolds and as the inevitable recession, or even depression, swallows us up, we will still be loved and we will still be able to love others – money isn’t everything.
Hope this helps.
<Enter stunningly witty and clever tagline here>
Bazza
No comments:
Post a Comment