Do you understand the current financial crisis? Neither do I! But if you’re looking for an easy to understand lingo-free (or as free as possible) explanation of the mess we’re in, then you should listen to the following This American Life episodes. I listened to them a few days ago and actually feel like I have a very basic grasp on what’s going on. Amazing!
- The Giant Pool of Money
This episode explains how the housing crisis led to a bigger financial crisis. How come banks started lending money to just anybody? How bad is the problem, really? This episode answers all these questions. Click on “Full Episode” to listen.
- Another Frightening Show About the Economy
The same group of reporters return to explain how the housing market is connected and affects the rest of our economy. Why are banks and other large businesses going out of business? Also, is the bailout a good idea? What are some of the other options? Click on “Full Episode” to listen.
- Planet Money Podcast
A regular podcast that answers your questions about the economy in layman’s terms. This is not a This American Life episode, but an NPR podcast made by the same people who covered these topics in the previous links.