Media Matters reports that economists make up only 6% of guest appearances discussing the crisis on news and TV shows. It's slightly reminiscent of the Bush administration, who completely ignored the advice of Middle East experts before charging into Iraq. But there is one important difference. Unlike Middle East scholars, who saw the outcome of the Iraq war coming faster than you can topple a statue of Saddam, economists didn't really see this one coming.

As the Wall Street Journal stated before, economists weren't really at the front of the boat yelling "Iceberg, right ahead!" Hey, 20/20 hindsight, right? For now I'd just rather have people who don't know what they're talking about keep on yapping. It's not that I enjoy it, it just reminds me of a time when I didn't sleep with my savings under my mattress.

benturner, from New York, NY.   Status: Feelin the Pinch.
March 03, 2009 04:19 PM

I really like that Titanic was quoted so precisely in this entry. I'd like to keep it going in the context of the recession.

Jack to Rose: "Water that cold, like the water down there...It hits you like a thousand knives stabbing you all at once."

I imagine this analogy might work for the experience many folks are having when they check their 401Ks these days.