Whats going on?

I don't have television anymore, but I do try to keep up with the news using online news feeds, podcasts, and the like. Despite all of this, I still had a hard time figuring out this economic situation. I've had a very hard time finding any sort of comprehensive summary online or anywhere else.

So whats going on? The best summary I have been able to find is a set of podcasts from Chicago Public Radio. I've included links below where you can download the podcast or transcripts.

This podcast is from May and summarizes how everything started.

The Giant Pool of Money

This a the more recent podcast that details the situation as of about a week ago.

Another Frightening Show about the Economy

The people responsible for the above podcasts have started a podcast through NPR as well as a blog detailing what is going on a daily basis.

Planet Money Podcast
Planet Money Blog

I'm not sure I still understand everything, but the above links helped me to wrap my head around the situation. My conclusion: This crisis is the result of people being criminally negligent and criminally greedy.

Things are going to get worse...

Applying to graduate school has become ridiculously competitive, to the point where its difficult to get in without some sort of work experience. However, there is some indication that things are only going to get worse. Click the images to enlarge.


The image is from PhD comics, but the data is pulled from legitimate sources. Will undergraduate students now look to graduate school as an alternative to entering the workforce? Will people already working return to school in order to boost their credentials? All signs point to yes. I'm not sure how this will effect the application process, but if graduate funding remains as tight as it has been for the last eight years, its going to become even more competitive as more people with more qualifications apply for a dwindling number of spaces.



PhDComics

No, I'm not just sleeping in my office

Between moving and work picking up, I've been extremely busy. Time management now means managing spare minutes and scheduling times to read through my google reader que. I have a few things to post about, so expect some actual content this weekend.

Oh and this looks promising. If I can get it to work out I might have to actually start using the oven.