Here are links to a good listen and good read. NY Times' David Leonhardt explains why we should watch the Standard & Poors 500, not the Dow Jones Industrial Average. He also references a 2003 post by Daniel Gross on the same topic. Basically, the S&P is more representative and accurate in measuring activity than the Dow.
The fabulous radio show This American Life presents "Another Frightening Show about the Economy." Alex Blumberg and NPR's Adam Davidson try to unwrap the current economic situation from the credit crisis to the $700 billion bailout. They speak with businesses, financial and policy analysts, and physicists. This follows another economy explainer from May 10, 2008, "Giant Pool of Money," which talked about the bursting of the real estate bubble and subprime lending. Blumberg and Davidson have also started a daily podcast Planet Money.
(Thanks to Andrew Sullivan and Smileycue for the tips.)
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