It is insanely important to know what is going on with the current economic crisis and what it means for you. Agreed, it changes by the minute (the DOW dropped 1,000 points, went into the positive and is now hovering around -400 in three hours this morning) and the factors are ridiculously complicated. However, I argue that everyone should know what’s going on and if you run your own business, it’s even more important.

I’ve been doing everything I can do to figure out what’s going on and how to follow. Here are some sources I’ve found highly useful:

• This American Life has been producing a series of episodes that explains, in simple terms, exactly what is going on. Only the most recent episode is available for free but I suggest spending the $.95 as it will most likely save you 10,000 times that in the coming months.
• Planet Money is a blog that is doing a great job following the economic crisis. They also have a podcast that comes out everyday around 6pm.
• Marketplace is also a great podcast/ radio show/ blog that explains the crisis in simple terms.

In short, pay attention and try to follow what’s going on, but don’t sweat every detail. The big picture is what’s really important. If you can understand that it’ll make sense of the day-to-day tidbits.