As someone who's benefited from the knowledge and writing on the econoblogs listed in the Boston Globe article "So You Want to Save the Economy?," I feel compelled to acknowledge them here with a shout out.
Many of these bloggers are on my Blog Roll and these "dirty, hippie bloggers" have been collectively spot-on in forecasting the economic collapse that is unfolding. These economic experts also came together with one voice to say that Paulson had generated a stinker of an expensive and ultimately, ineffective TARP bailout plan.
This is in sharp contrast to many monetary policy makers and economists in the mainstream media, who both were completely surprised and caught unaware by the current financial trainwreck, and then pushed and promoted TARP as our best hope for avoiding a financial downturn.
Who was right?
Lastly, I call attention to reports of the bankruptcies and worsening balance-sheet conditions at many newsprint and traditional media companies (see New York Times, Tribune Company financial woes). There are many reasons for their financial troubles, to which I'd include diluted, dumbed-down news analysis and a general slippage in editorial standards and news coverage.
In the evolution of news, more readers are plugging into Internet(including blogs), traditional media is suffering and, print media will become a shadow of its former self.
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