So let me see if I have this right. I should be paying attention to the MSM, even though they failed to predict the financial crisis and continue to miss[report] important details and generally lag a couple months behind several more well informed blogs (when they do report something blogs were covering)??

And I should ignore sites like Calculated Risk that predicted the housing market collapse before it happened? Ditto for sites like naked capitalism that were discussing problems with derivatives, CDS's, shady accounting, etc. back in e.g. 2007??

And Simon Johnson, the former Chief Economist of the IMF who has testified before Congress (about the current financial crisis) multiple times -- no credibility there either? Look for his posts on The Baseline Sceanrio.

And the Financial Times, generally considered to be the best and most credible publication on economics -- I should ignore that too?

And Nobel Prize Laurette Professor Paul Krugman? He has decades of articles and several years worth of blog posts that show he has a proven track record. A lot of people don't like him, especially "economists" focused almost entirely on ideology over substance, but we can actually go back and see what he said back then vs. now to see who was right. For example a year ago many "economists" where warning about bond vigilantes and hyperinflation because bond rates went up a small amount. Meanwhile Professor Krugman was concerned about deflation. Well, a year later, there has been no hyperinflation and no bond vigilates destroying the market. In fact, bond rates dropped a fair amount. Meanwhile deflation a la Japan's Lost Decade (which has been more than a lost decade) seems much likely now than ever!! Though perhaps the most important and sobering article he written as of late is Defining Prosperity Down. Well worth a read.

As a side note, anyone looking for a good summary blog site, check out Professor Mark Thoma's Economist's View. He often links to the blogs I mentioned above along with several others, making it a great jumping off place.

Anyway, as empirical evidence has shown, there are several blogs that provide accurate information, reporting and serious commentary. If you want to get a better feel for what's really going on, then that's where you need to turn to these days. If you think you are getting accurate reporting from the MSM, then barring a few exceptions, you are sadly mistaken.

Elda Taluta; Sarks Sark; Ark Arks

In reply to Re^3: How do North Americans find Europe as a workplace? by Argel
in thread How do North Americans find Europe as a workplace? by talexb

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