Archive for March, 2009

11
Mar
09

If Only We Had Known…

Inescapable.  That’s the word I think best describes the current economic crisis.  Not inescapable in the sense that no one will be able to financially survive it, but inescapable in the sense that news of it is everywhere. Phrases like “credit crunch,” “subprime mortgage crisis,” “bailout,” and “global meltdown ohmigodwe’reallgoingtodieafieryeconomicdeath” have become mainstays in the current American vocabulary, and I would bet you a dollar that even if you have no idea what those terms mean, you at least recognize them.

I’ve mentioned before on this blog that in my opinion, the most honest, trustworthy, and just-plain-understandable source for not only surviving but truly comprehending the current economic situation is This American Life, specifically the episodes “Bad Bank,” “Another Frightening Show About the Economy,” and “The Giant Pool of Money.” (If you haven’t listened to them and you’re planning on doing so, which you should, listen to them in the chronological order in which they were produced, which is the inverse order I listed them here.)  These three episodes give what I believe is the most comprehensive and plain-language explanation of how we got to where we are in terms of the economy, as well as open minded analysis and potential solutions for getting us out of our current chaotic state.

It turns out, however, that back in early 2006, another source had a fail-safe solution that could have prevented this entire problem from arising, had we all paid attention to it.  Yes, the solution to this mind-bending problem that cable news networks have been endlessly analyzing and reporting around the clock can be boiled down to one two-minute-and-thirty-second video that we all ignored, and now, we’re paying the price. 

Go here to find out how paying attention to Saturday Night Live could have prevented the whole economic crisis in the first place.