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Not having much luck myself, I don't think anyone knows how to make sense of it. Its either going to be worse than the great depression or no big deal. Have been scanning HN a lot for anything related to the economy and found little except for this post.
What I read here are:
- Newspaper titles (only read the content if something is really interesting)
- Twitter, following a few key people, both with a political and economical background
- Discuss with friends about economy topics
I know there's much noise in all that, but same as with politics, I don't think you'll be able to fully make sense of the economy unless you dive deep into it for many years, and even then you'll only get a partial view on many things.
https://www.reddit.com/r/Frugal/
https://www.reddit.com/r/personalfinance/
https://www.reddit.com/r/financialindependence/
https://www.reddit.com/r/investing/
https://www.reddit.com/r/stocks/
Oh, this was the article https://qz.com/1707479/reddit-has-become-a-guide-to-personal... (https://news.ycombinator.com/item?id=22478854).
Then there are the recent HN posts to Lyn Alden’s work: https://news.ycombinator.com/from?site=lynalden.com .
If it means "What 10-15 stocks are poised to give me great returns in the next 5 years", the reading will be different (this would be sector reports, 10-Ks etc)
If it means "how can I ensure that another economic shock won't destroy my wealth or plans for FIRE", the reading will be different.
FWIW, I am finishing up a book called "Contagion" [0] (not the fiction one ) and should start reading "Pale Rider" [1] about the 1918 pandemic. I've found that history offers guidance and opens your mind to possibilities thus offering solace.
[0] https://www.amazon.in/Rules-Contagion-Outbreaks-Infectious-D...
[1] https://www.amazon.in/Pale-Rider-Spanish-Changed-World-ebook...
very approachable for an intimidatingly huge book
The Normal Economy Is Never Coming Back - https://foreignpolicy.com/2020/04/09/unemployment-coronaviru...
Mises and Hayek wrote big and hard to read books about it, but two that explain this to the layman are "Meltdown" by Tom Woods[0] and "How An Economy Grows And Why It Crashes" by Peter Schiff[1]. The first is an explanation using the 2008 crisis, and the second is a very amusing yet educating economy lesson told as a kids' story.
Another book that can help grasp this, although I wouldn't read it first, is "The Forgotten Depression: 1921: The Crash That Cured Itself" by James Grant.
If you're interested in the actual business cycle theory, Tom Woods explained it briefly while promoting Meltdown. Explanation starts 14:03:
https://youtu.be/NBwJm68FkMc?t=844
[0] https://www.amazon.com/Meltdown-Economy-Tanked-Government-Ba...
[1] https://www.amazon.com/How-Economy-Grows-Why-Crashes/dp/B004...
I personally really like The Economist to get a good sense of what's going on globally.