Daily Links for March 10th through March 11th
- GOOD » Making Sense of the Financial Mess» - We tried to make sense of the financial mess we’re in. As you can see, we couldn’t come up with anything satisfying, so we want your help. We’re offering $500 to the best global finance infographic we receive, as judged by a prominent economist. UPDATE (3/2/09): We’re blown away by the quality of these submissions. We’ve stopped accepting new ones at this point and judging is underway. We’ll be highlighting some of our favorite entries in the GOOD blog over the next week and we’ll be back here with an update on judging next Wednesday, March 11.
- President’s First 50 Days & Market Changes | The Big Picture [With Chart Porn] - As discussed previously, I no more think the 2007-09 crash is Obama’s fault than I believe the 2000-03 Tech wreck was W’s fault. The key forces causing a market collapse were already in motion when each President was sworn in. Others do, and I have suggested these pundits were revealing their own partisan biases rather than making informative commentary about markets.
- Calculated Risk: What is a depression? - Some people argue the duration of the economic slump defines a depression - and the current recession is already 15 months old. That is longer than the recessions of '90/'91 and '01. The '73-'75 recession lasted 16 months peak to trough, and the early '80s recession (a double dip) was classified as a 6 month recession followed by a 16 month recession (22 months total). Those earlier periods weren't "depressions", so if duration is the key measure, the current recession still has a ways to go.
- FRAMESHOP: Does Geithner Get What's Framing the Debate? - The fact is, some metaphors help the public understand what government is doing and some do not. While the three-legged stool may be a good description to use in back-room meetings, briefing books, and closed-door updates to Congress, it is not a good metaphor for defining a national debate. 'Falling off a cliff,' by contrast, does seem like a strong metaphor.
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