Just in case you need another surreal economic model to understand mortage-backed securities and credit-default swaps – a.k.a. why you are broke and I am broke and Warren Buffet isn’t feeling so hot right now, either – Planet Money has a hilarious story about trading Cheetos and Nutter Butter bars for frosted layer cake futures in the free marketplace of a 3rd-grade school lunchroom:
When Joshua Bearman was a third grader, he got locked out of the lunchroom economy. His classmates piled their jazzed-up, sugarfied, food/not food snacks on the table and traded until the best junk won, while Joshua sat on the sidelines with the sardines and raisins his family sent. Then, one magical day, he dreamed up the delicious cake futures. Read more/listen.