Monday, October 06, 2008
the slow drain
Like you, I've been following this economic meltdown. I'll admit sometimes I only vaguely understand the meaning of what I'm reading and hearing. For me, two podcasts have sort of crystallized what this situation means. The first is here, it's called The Giant Pool of Money, and it explains, in plain language, how The Sub-prime Mortgage Crisis (it requires capital letters now) came to be. The second explains the slow drain in this giant pool, the resulting credit freeze, and the resulting $700 billion bailout package. It's called Another Frightening Show About the Economy and you can find it here. I have to say that--although very enjoyable and informative--neither of these shows have made me feel better about the trajectory of our economy, nor have they actually awakened me from surreal slumber, the feeling that none of this will affect me anyway. I hope it doesn't. Now that I've written that, I'm thinking of ways it has affected me. Mostly my spending habits. Let's just say the trips to Sonic for the 32-oz Diet Cokes with chocolate have tapered off. What about you?