When they say don't Panic.......

From Dean Baker @ Beat the Press:

Surprised Economists Urge People Not to Panic on NPR

NPR had a segment on Morning Edition which featured several economists urging people not to pull their money out of money market funds. All three economists told people that money market funds are still very safe, even though some did report losses due to the recent turmoil in financial markets.

It is worth noting that the expert crew on NPR were all caught by surprised by this financial turmoil. Listeners should keep this in mind in assessing their current perspectives. This is one reason why NPR and other media outlets should seek our non-surprised experts for their assessments of the situation. (For the record, I would largely concur with their assessment of money market funds, although I would say the risk is not zero.)