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You are here: Home / Politics / Domestic Politics / The Financial Mess

The Financial Mess

by John Cole|  October 9, 20087:12 pm| 45 Comments

This post is in: Domestic Politics

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Other than Calculated Risk, where else to go for information?

BTW- Reducing the number of front pages posts displaying at a time- if I lower it to five is that too low? Or would ten be better? Fifteen was what it was at. Trying to see if that increases load times.

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Previous Post: « Mr. Puddles, I Have Snausages
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Reader Interactions

45Comments

  1. 1.

    Dan

    October 9, 2008 at 7:14 pm

    http://www.nakedcapitalism.com

  2. 2.

    Sasha

    October 9, 2008 at 7:18 pm

    Eight to ten would be better. Try to keep a little more than one day’s posts on the front page.

  3. 3.

    S

    October 9, 2008 at 7:20 pm

    The Market Ticker

    Naked Capitalism

    Long or Short Capital

  4. 4.

    BombIranForChrist

    October 9, 2008 at 7:21 pm

    I like The Big Picture because he often includes big, purty pictures that I can actually understand.

    Calculated Risk is surely great, but I am too dumb for it.

  5. 5.

    Angry Engineer

    October 9, 2008 at 7:21 pm

    Another vote here for The Big Picture.

  6. 6.

    BombIranForChrist

    October 9, 2008 at 7:21 pm

    Erm, link for Big Picture.

  7. 7.

    red plaid

    October 9, 2008 at 7:22 pm

    The Big Picture:
    http://bigpicture.typepad.com/

    Mish’s Global Economic Trend Analysis:
    http://globaleconomicanalysis.blogspot.com/

    Naked Capitalism (I second Dan’s recommendation):
    http://www.nakedcapitalism.com/

  8. 8.

    Randy H

    October 9, 2008 at 7:23 pm

    http://globaleconomicanalysis.blogspot.com/

  9. 9.

    The Grand Panjandrum

    October 9, 2008 at 7:26 pm

    I’m not sure how many to keep on front page.

    Boy, oh, boy did you read Erickson’s post about throwing in the towel on McCain winning? Whew!

    I read Robert Reich but he doesn’t post regularly. One smart fucker even if you don’t agree with him.

  10. 10.

    slaney black

    October 9, 2008 at 7:29 pm

    Mogambo Guru!!!!!

    The global total of derivative contracts outstanding is $1.125 quadrillion, whereas global GDP is about $50 trillion…Only here, safe amongst gold, silver, guns, frozen pizzas and stacks of adult literature of the "Hot, Nasty Ladies" variety can I finally relax enough to calculate that to make this $1.125 quadrillion yield even a lowly 1%, it would take $11.25 trillion just to pay the interest! Hahaha! We’re freaking doomed! A quarter of global GDP is needed just to pay a 1% yield!

    http://www.dailyreckoning.com/Writers/MogamboGuru.html

  11. 11.

    Laura K

    October 9, 2008 at 7:33 pm

    I have to second the recommendation for Robert Reich. He doesn’t post on every financial matter under the sun, or every event in the financial news, but I always learn something when he does.

  12. 12.

    PeakVT

    October 9, 2008 at 7:37 pm

    Calculated Risk
    Big Picture
    Beat the Press
    Conscience of a Liberal
    Naked Capitalism
    Roubini

  13. 13.

    Perry Como

    October 9, 2008 at 7:38 pm

    http://globaleconomicanalysis.blogspot.com/

    Mish has been warning about this clusterfuck for a while.

    And The Mogambo Guru is fucking hilarious.

  14. 14.

    MrSnrub

    October 9, 2008 at 7:39 pm

    NPR has a great brand new daily podcast called Planet Money. I cannot recommend it highly enough.

  15. 15.

    CIRCVS MAXIMVS MMVIII

    October 9, 2008 at 7:39 pm

    I like to read Mish’s Global Economic Trend Analysis (he and his followers are not liberal, more libertarian, but the financial info is good).

  16. 16.

    CIRCVS MAXIMVS MMVIII

    October 9, 2008 at 7:41 pm

    I also receive newsletters from Money and Markets (Weiss Research).

  17. 17.

    CIRCVS MAXIMVS MMVIII

    October 9, 2008 at 7:48 pm

    Five is fine for me.

    Sasha – eight to ten is not a single day anymore. ;)

  18. 18.

    The Populist

    October 9, 2008 at 7:49 pm

    bonddad.blogspot.com
    mrmortgage.ml-implode.com
    housingpanic.blogspot.com
    bankimplode.com
    patrick.net
    blownmortgage.com

    and for laughs the kid who is a poster boy for all this mess:

    http://www.truecasey.com (kid buys 8 homes in months and is foreclosed upon).

  19. 19.

    Perry Como

    October 9, 2008 at 7:49 pm

    Nikkei is crashing.

  20. 20.

    Comrade This One

    October 9, 2008 at 7:49 pm

    I also usually check out Ilargi at Automatic Earth. There is a daily posting now looking at/analyzing the previous day’s chapter of the nightmare, and then a wrap-up of the various news stories with the details of that chapter. He is highly opinionated, but has been spot on since I’ve been reading him (not long), and is an entertaining writer.

  21. 21.

    gbear

    October 9, 2008 at 7:53 pm

    5 may too low.
    10 is very generous.
    7 is considered lucky, although
    8 is lucky in China though:

    In Chinese communities around the world, eight is considered the most fortuitous of numbers, making it much coveted for addresses, phone numbers and bank accounts.

    If you’re Chinese, an eight not only portends prosperity but confidence and money worth even millions, depending where you are.

    "In Hong Kong, a personal license plate with the number eight can cost millions of dollars," says Alhambra, California developer Raymond Cheng, who was born and reared in the [former] British colony. "A single eight on your license plate gives you status. People know you have to pay top dollars for it."

  22. 22.

    CIRCVS MAXIMVS MMVIII

    October 9, 2008 at 7:56 pm

    CNN is getting ready to report that Asian stocks are plummeting (breaking news, but after commercial)

  23. 23.

    Comrade Peter J

    October 9, 2008 at 7:57 pm

    BTW- Reducing the number of front pages posts displaying at a time- if I lower it to five is that too low? Or would ten be better? Fifteen was what it was at. Trying to see if that increases load times.

    Five might be too low. Any chance that the list on the left with recent post headlines will return? If the list returns then a lower number of front page posts would be ok.

  24. 24.

    Suicidal Zebra

    October 9, 2008 at 8:03 pm

    The Nikkei-225 opens down 10.8%. Ouchie.

  25. 25.

    p.a.

    October 9, 2008 at 8:07 pm

    angrybear is a group blog, so therefore wide-ranging and chaotic in a fun way, and has a very nice blogroll.

  26. 26.

    Punchy

    October 9, 2008 at 8:11 pm

    10 % down in Japan? I am going to throw up. That portends another huge Dow drop 2morrow. Mah parents r gunna b fuked….

  27. 27.

    crayz

    October 9, 2008 at 8:14 pm

    WordPress should be able to cache the data on the page so that it really barely matters how many posts are on the front page. You should use a benchmarking software like Apache’s ab to test that theory out

    You need any help with this web stuff?

  28. 28.

    Perry Como

    October 9, 2008 at 8:17 pm

    Circuit breakers tripped and Osaka futures have been halted. That didn’t take long.

  29. 29.

    nadezhda

    October 9, 2008 at 8:20 pm

    I second nakedcapitalism and Big Picture for excellent posts throughout the day (and sometimes night). Also agree that Dean Baker and Robert Reich are good, but they are less frequent and more policy-oriented posters.

    Different strokes for different folks, but here are some blogs you might want to check out that produce stuff relevant to the current crisis. Lots of variety, so it depends on your background and specific interests.

    Krugman’s blog is a must on the practical and political angles of policy as well as economics-made-easy in 3 paragraphs or less. He’s been ahead of everybody in this crisis. Certainly has demonstrated he deserves a big role come Jan 2009 (cross fingers).
    Felix Salmon at Portfolio.com is excellent on the intersection of market behavior and policy, regs, what the Fed does etc.
    Justin Fox at Time’s Curious Capitalist is also excellent at following the markets, policy initiatives, and explaining things.
    Henry Blodgett has just launched ClusterStock which is more market and heard-on-the-street focused. IIRC, the lead blogger from NYT’s Dealbook just joined Blodgett.
    For a one-stop shop for well-selected economics/policy posts, Mark Thoma stays on top of the economics blogosphere at Economists View, often with his own commentary added.
    Brad DeLong has an interesting mix of his own commentary and copies of posts and articles from around the web at his aggregation site.
    Brad Setser — Follow the Money is simply the best on foreign exchange, international balances, central banks and China, China, China. He now blogs at Council on Foreign Relations — used to blog with Roubini.
    And Tyler Cowen always has pertinent observations.

    Biggish media blogs that are particularly relevant to the current mess include:
    Slate has just launched a new econ-finance site, The Big Money. I’m not much of a Slate fan generally, but their regular econ journalist, Daniel Gross, is always interesting at Slate’s Moneybox. Frex, his recent take-down of the "it’s all the fault and poor blacks and Fannie and Freddie" is terrific.
    The Economist has Free Exchange.
    WSJ has Real Time Economics.
    BBC has Paul Mason’s Idle Scrawl.
    And the NYT includes Floyd Norris and Economix.

    Idiosyncratic but often very good stuff can be found at
    Angry Bear
    Interfluidity — occasional, wonderfully insightful essays by Steve Randy Waldman

    Abnormal Returns is a very handy daily link roundup.

  30. 30.

    comrade sparky

    October 9, 2008 at 8:24 pm

    i will flaunt my techo-ignorance here and say the place loads much more quickly with text than with vid, but that may be flashgot or somesuch thingy. or my $%^%$$#@! airport card. so i am in favor of not too many on one page.

    in addition to the above,
    i recommend the blogroll at calculated risk–a good roundup
    Krugman’s blog at the NYT, though i never do the assigned homework;
    Econbrowser
    Safe Haven has a collection of Daily-Reckoning-type folks (goldish/libertarian/technical)

    Edge is doing something on behavioural econ but I haven’t looked at it yet.

    i think Roubini, over all, does the best job of explaining to us of the laity, though we really need is a Robert Caro of finance (paging Michael Thomas?)

    i will also put in a plug for my favorite small investigative blog, Eye on Miami, which goes into great detail examining "interesting" South Florida real estate transactions and their (ahem) relationship to local government. i think it’s what used to be called legwork once upon a time.

  31. 31.

    gerry

    October 9, 2008 at 8:29 pm

    Just please don’t ruin your site like TBogg did.

  32. 32.

    Bill Arnold

    October 9, 2008 at 8:42 pm

    http://theeprovocateur.blogspot.com/ (Mike Volpe) often writes about financial stuff. He’s conservative but relatively sane and not instinctively doctrinaire, sometimes taking on wingnut fantasies like the blaming of the subprime crisis on the CRA.
    A good bridge to wingnuttia, that won’t drive you to drill holes in your head with an electric drill.

    Various economists have blogs, some mentioned here.

  33. 33.

    Sean

    October 9, 2008 at 8:44 pm

    This one can be scary because it is a lot of macroeconomics, but it is from the man who predicted this mess (and was laughed at) in 2004, Nouriel Roubini

    http://www.rgemonitor.com/

  34. 34.

    A Squirrel

    October 9, 2008 at 9:15 pm

    @Sean: I second Sean, if you’re in a mood for kinda heavy reading.

    Almost all of the recomendations are very good.

  35. 35.

    ed_finnerty

    October 9, 2008 at 9:25 pm

    besides those named (and I second Mish)

    across the curve (todays post on IBM will scare the pants (or skirts as the case may be) off anyone)

  36. 36.

    The Other Steve

    October 9, 2008 at 10:09 pm

    Fix whatever javascript is capturing my keystrokes!

    I like to use pgup/pgdn and arrow keys to read the web.

  37. 37.

    Turbulence

    October 9, 2008 at 10:10 pm

    Fix whatever javascript is capturing my keystrokes! I like to use pgup/pgdn and arrow keys to read the web.

    Oh God yes! Reading comments is very very painful. I’m using Firefox 3 and if I had to guess, I’d say the problem was related to all the javascript errors that comments pages have on the new site.

  38. 38.

    Jasper

    October 9, 2008 at 11:28 pm

    I will second the Big Picture. It has some very smart people commenting as well. As do many of the others like naked capitalism. Not many of the lead bloggers will give trading advice, probably for SEC reasons, I’d imagine, but the readers do and it’s sometimes very GOOD advice.

    Really it’s amazing how many bright people are not a bit surprised at what is happening – called it years ago.

    I have to post this link, however. It’s a debate between Art Laffer (inventor of the GOP Holy Grail of tax policy Laffer Curve) and Peter Shiff from TWO YEARS ago. Peter Shiff is amazing predicting what we are seeing right now. Laffer is shown to be a fool and a clown, which is fitting, IMO.

    Anyone who thinks this mess wasn’t foreseeable MUST watch this video. You’ll be convinced it was, and angrier than you already are about our government allowing it to happen.

    http://www.youtube.com/watch?v=LfascZSTU4o

  39. 39.

    dopealope

    October 10, 2008 at 12:38 am

    I’ve found these podcasts extremely helpful:

    Planet Money

  40. 40.

    dopealope

    October 10, 2008 at 12:40 am

    And this is a pretty good overall explanation of what is happening:

    This American Life

  41. 41.

    skippy

    October 10, 2008 at 12:56 am

    i have a comprehensive list of links to great econoblogs on my sidebar, including calculated risk, krugman, bonddad, mish, rge, naked capitalism, and others.

    this list is below my rather long list of political blogs, but it’s worth looking for.

    and the good news is, i have a new category at the top of my blogroll called "skippy’s daily reads," and one of the five names is "john cole."

  42. 42.

    jTh

    October 10, 2008 at 1:06 am

    Please GOD, not only five per page. Ten, minimum, or fifteen would be just fine. "At least a day’s worth."

  43. 43.

    Brandon

    October 10, 2008 at 1:07 am

    http://www.rgemonitor.com/blog

    Dr. Doom’s (aka Nouriel Roubini’s) blog. Pretty bearish economist who’s been right nearly 100% on the causes of this crisis, if not the form it would take. He’s been talking about the derivatives markets crashing for years.

    Krugman’s blog (krugman.blogs.nytimes.com), obvious for a liberal, although some of his posts are too wonky for a person without a lot of economics knowledge.

    I also like Brad DeLong (delong.typepad.com), who’s a berkeley economist in the same vein as Krugman, but who blogs more frequently.

    Barry Ritholtz (bigpicture.typepad.com) is fantastic.

  44. 44.

    kommrade jakevich

    October 10, 2008 at 6:04 am

    We read a number of message forums, but I don’t feel comfortable recommending any of them due to the loony factor. Yes! There are people who acknowledge the economy is completely craptacular and rabidly support George Bush. I assume their heads are reinforced by steel bands. Plus, there are people who still insist everything is fine. And tin-foil hatists. I’m guess I’m saying that once you feel you have a grip on basic knowledge keep an eye out for a forum you feel comfortable with.

    Assuming you haven’t had to sell your computer to buy cat food by then.

    BTW- Reducing the number of front pages posts displaying at a time- if I lower it to five is that too low? Or would ten be better? Fifteen was what it was at. Trying to see if that increases load times.

    How about five pp but you put the list of 10 recent posts back in.

    Also, the Black Wall of Oblivion still comes up.

  45. 45.

    DrDave

    October 10, 2008 at 6:07 am

    http://cunningrealist.blogspot.com/

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