There’s no denying the fact that the economy is big news these days. Despite government bailout plans, and high gaining days on Wall Street none of us are really sure where our country is going and what to expect in the future.  Confusion doesn’t just stop at what we can expect to experience in the weeks, months, and years to come; but if you’re like most people you’re not totally clear on how we got to this spot in the first place.  I do a lot of reading every day and finical coverage in particular seems like it has gotten to a point where journalists don’t go to far in depth when reporting on the economy… its a very complicated subject and breaking down the details to a point where most people can understand isn’t worth the effort.

But what is there for those of us who want more information than just the phrase “subprime mortgage crisis”.  What does that mean exactly? How was this allowed, and how did it play a part in sending our economy on a downward spiral?

That’s where “This American Life”, a National Public Radio program that normally focuses on interesting, and eclectic hometown storytelling decided to step up to the plate. According to a recent NY Times article, It was back in 2006 that TAL Producer Alex Blumberg started asking questions about the long-term stability of sub-prime mortgages – they didn’t seem to make sense when everyone he knew was maxed out on their credit cards.  Alex started talking with his friend Adam Davidson who was an NPR business reporter and the two of them began taking a hard look at the banking industry.

In May of 2008 This American Life aired an hour long program entitled “Giant Pool of Money” which was the culmination of Alex & Adam’s work, it broke down in easy to understand terms the ins and outs of what was happening with the mortgage industry.  It also included some pretty revealing interviews with people inside the business.

After being heralded as a huge success in educating people about the sub-prime mortgage crisis, the two started working on covering more aspects of our economy.  A few weeks back Alex reported on the Security & Exchange Commission’s lack of oversight in the shady Wall Street practice of “short selling” during the second half of a This American Life episode entitled “Enforcers“.

And most recently, the duo premiered a second hour long program entitled “Another frightening Show on the Economy” which looked at the $700bn bailout package that was just passed into law. Through research and interviews they attempted to answer simple questions like how we got to this point, what triggered a a near-credit freeze a few weeks ago, and how does effect every sector of the economy. They also knew the big question was in regard to the bailout bill; was it a good idea or a bad one.

Its all fascinating stuff that gives you detailed, but easy to understand information regarding these very complex times we find ourselves in.

*The above links will take you to the website where you can stream each episode for free, they are also available to download for purchase at around $0.95/each.

This should be the last of the Iditarod mentions on this blog until next spring when Iditarod 2009 kicks off in March (I normally save all mushing posts for my other blog – iditablog.com).  I did want to remind everyone one last time though that this evening will be the premier of “Toughest Race on Earth: Iditarod” on the Discovery Channel.  It will be the most comprehensive look at the Iditarod to date as it seeks to follow not just the leaders of the race (as most coverage has done in the past) but those all through the entire pack of mushers.  There were nearly 30 teams that were outfitted with cameras during last years race.  The production company that has been working on this show for the last 8 months is the same group that has done the very high quality, and very entertaining “Deadliest Catch” and “Ice Road Truckers”.

The video below is 2-time consecutive Iditarod Champion Lance Mackey appearing recently on Conan O’Brian to promo the Discovery show.

UPDATE: 10/18 – I updated the post to actually include a video of Lance on Conan, along with keeping the video of Mackey listening to Jeff King after Lance’s close 2008 Iditarod victory.

Its been another big month, for both us and really the world in general.  We’re less than 30 days away from what I believe is turning out to be one of the biggest elections in American history.  Some of the links this round are politically related, but in ways other than focusing on the candidates themselves.  So, take a look and enjoy what I’ve enjoyed reading the most over the last few weeks.

Olympus previews next generation Digital SLR, with style

It’s called “micro four thirds” technology, and its going to make our digital pictures crisper, cleaner, and more colorful.  It allows camera manufacturers to create cameras with the quality of DSLR cameras, in a smaller and lighter package.  Olympus showed off a prototype of this new format recently that is both small, but also could be the most stylish digital camera we’ve seen in quite a long time.

The 269 tie: An electoral college ‘doomsday’?

This Washington Times article poses the interesting question, what would happen if on election day, there was a tie in electoral college votes?  The constitution tries to clarify what the procedure would be, but that isn’t even clean enough.  “Sound impossible? It’s not. There are at least a half-dozen plausible ways the election can end in a tie” We’re looking at one of those scenarios right now if the candidates hold onto the states they are leading in, with the exception of New Hampshire (which went Republican in 2000 and Democratic in 2004, each time by just 1.5 percent). This would make the 2000 election look like a student council runoff.

Covering Sarah Palin campaign from the Nome front

Steve Lopez, whom I found to be a bit snarky, and very sarcastic recently flew all the way from Los Angeles to Nome Alaska to cover the Sarah Palin campaign and talk to some “real Alaskans”.   Its an offbeat article that inverviews many people that we knew from living in Nome a few years ago…. and does provide some true Nome local flavor.

China prematurely describes space flight in article before it ever happens

China’s official news agency posted a story on their website describing in detail, and with quotes from astronauts the success of the country’s first space flight. The problem was that the flight wasn’t due to launch for another few days.  This takes running prepared obituaries to a whole new level, and makes you question how the news is reported in the world’s most powerful communist country.