Economists and Garbage - Link to article by Steven D. Levitt (Freakonomics)

Steven D. Levitt is the author of the opinion blog in the New York Times, Freakonomics: The Hidden Side of Everything. He is known for his unusual sense of "humor" as well as pushing the limits from time-to-time. Levitt's recent post, "What Do Economists Have in Common with Garbage?" asks readers to respond to this question.

(Editor B's photo of garbage)

"And to compare economists to garbage, well that obviously means that I think all economists are garbage, including myself. " -Steven D. Levitt

For a humorous spin on the current economic crisis, read the the comments to Levitt's post.

Note: I do not intend to mock economists. I'm sharing these quotes because they fit the theme of the title of this blog.

Here are a few quotes:

"Both produce a Gross Domestic Product." -George

"Garbage creates micro-parasites. Economists create macro-parasites. Unchecked, both lead to epidemic catastrophes." -jbharshaw

"You don’t really notice them until things start to stink."— Cara

"Each one points to a stinky 2009." - Mitch

"You can learn a lot from both, if you take the time to look." -Chad Bergeron


RELATED
If you are a bit tired of economic doom and gloom, take a look one of my earlier blog posts with links to economic jokes and quotes.

Update: Also see my post with links to Williambanzai7's humorous lyrics about the economic crisis, set to tunes of popular songs - "Time-line of Songs about the Economic Crisis (some humorous).

NY Times Series "The Reckoning: The Risk in Hindsight"

As a public school employee, my investment knowledge, until the past few weeks, has been limited to my understanding of my low-risk 401K and 403-b funds.

Derivatives? Hedge funds? Credit Derivatives? Short selling? Futures Contracts? Why should I worry about all of that! Like many other people, I was happy in my ignorance.

Here are a few links that I found useful in my fast-track education in finance and economics:

The New York Times Online is full of articles and video clips exploring the causes of the financial crisis:

Video: Examining the Financial Crisis
Video Timeline: Five Weeks of Financial TurmoilVideo: How Fannie Mae's Problems Lead to the Country's Financial Crisis
The Credit Crisis-The Essentials
AIG: Behind Insurer’s Crisis, Blind Eye to a Web of Risk
Taking a Hard New Look at Greenspan Legacy


NY Times Multimedia Graphic: Growth of a Complex Market

Interactive Graphic: Credit Crisis Indicators

More to come!

Reference:
Investopedia