The Causes of The Great Depression / FDR Memorial Site
Image by Tony the Misfit via Flickr

As the stock market continues to plummet and phrases like "the worst economic situation since the Great Depression " continues to make news, myself and others not knowledgeable about the economy get only more confused.  Confused and scared. What on earth is going on? What does it mean for me? Is this "bailout" a good thing?

One of my twitter followers forwarded a spectacular program from Ira Glass ‘ "This American Life " that explains just this. Have you heard of the "commercial paper market" or "credit default swaps ?" Do you know what "breaking the buck" means? Me either, but these things have helped to create the current global economic crisis.

Take an hour or so to listen through the program to at least familiarize yourself with what exactly has happened and what it means for the future.

This American Life – 365: Another Frightening Show About the Economy

Let me know your thoughts. Are you actively taking measures to ensure your finances in the midst of the panic seizing up the economy?