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	<title>Irrelevance Glorified &#187; economics</title>
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	<description>Infinity Simplified  ranjeet.rao(at)gmail.com</description>
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		<title>Financial Crap</title>
		<link>http://www.ranjeetrao.com/2008/10/06/financial-crap/</link>
		<comments>http://www.ranjeetrao.com/2008/10/06/financial-crap/#comments</comments>
		<pubDate>Tue, 07 Oct 2008 04:34:13 +0000</pubDate>
		<dc:creator>ranjeet</dc:creator>
				<category><![CDATA[Jeet Approved]]></category>
		<category><![CDATA[economics]]></category>
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		<guid isPermaLink="false">http://www.ranjeetrao.com/?p=394</guid>
		<description><![CDATA[Well, in the past few weeks there&#8217;s been a lot of turmoil in the markets&#8230;you&#8217;d have to be living in a cave not to see that. I&#8217;m sure all my fans out there wonder what I think of the situation. Why are you asking me? I don&#8217;t know anything. But I can mention some of [...]]]></description>
			<content:encoded><![CDATA[<p>Well, in the past few weeks there&#8217;s been a lot of turmoil in the markets&#8230;you&#8217;d have to be living in a cave not to see that. I&#8217;m sure all my fans out there wonder what I think of the situation.</p>
<p>Why are you asking me? I don&#8217;t know anything.</p>
<p>But I can mention some of the websites that have provided interesting economic information over the past few years. None of them offer stock advice or anything like that &#8212; most of the time it&#8217;s just opinion, analysis, and explanation of economic data. While I, not being an economist, am not in a position to critically analyze them, I&#8217;ve followed some of these websites for two or three years, and history has borne a lot of what they&#8217;ve said to be right, and that has to count for something.</p>
<p>First up is Paul Krugman, for both his <a href="http://topics.nytimes.com/top/opinion/editorialsandoped/oped/columnists/paulkrugman/index.html">New York Times column</a> as well as his <a href="http://krugman.blogs.nytimes.com/">blog</a>.  He is often shrill, and is probably considered a bogeyman to conservatives &#8212; oh wait, that&#8217;s probably something in his favor. His column is mostly policy stuff, his blog is mostly econ stuff. But again&#8230;he&#8217;s often been right.</p>
<p>More recently, I&#8217;ve been reading <a href="http://bigpicture.typepad.com/">The Big Picture</a>, by Barry Ritholtz. I started reading it probably over a year ago, when the sub-prime stuff started to really heat up, because he does a lot of stuff on housing.  Anyways, he&#8217;s an econ nerd and laughs at stuff that&#8217;s really only funny to Wall Street types like him, but everything I&#8217;ve read has seemed reasoned and, again, is often right.</p>
<p>Lastly, there is <a href="http://calculatedrisk.blogspot.com/">Calculated Risk</a>.  Less analysis, for the most part, and mostly just news. When I was waiting for <a href="http://www.wamu.com">my bank</a> to fail, I was checking this blog a lot, because they were doing pretty regular posting on the wheelings and dealings going on by the various players. </p>
<p>Finally, I just found out about a series of shows on <a href="http://www.thislife.org/">This American Life</a> that have focused on the current economic crisis and what caused it. In particular, you should look at <a href="http://www.thislife.org/Radio_Episode.aspx?sched=1242">Episode 355: The Giant Pool of Money</a> and <a href="http://www.thislife.org/Radio_Episode.aspx?sched=1263">Episode 365: Another Frightening Show About The Economy</a>.  Both are available streaming for free, and you can download Ep. 365 for free and Episode 355 for pay.  I listened to both today and I <strong>highly</strong> recommend them, as they go through some of those terms you may have heard about like collateral debt obligations and credit default swaps and explain the incentives behind the sub-prime bubble, all in a very accessible and entertaining way, with lots of interviews with mortgage brokers and corporate treasurers that have been down in the trenches over the past five years. </p>
<p>So, frequent visitors and random guests, I hope you enjoy the links.  Since The Internet is one of my superpowers, it&#8217;s only fair that I give back to the community.</p>
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