tagged w/ SHOW US: The Recession
-
Sinister outcasts from Princeton's economist Krugman - He expects the US housing market to drop 25% overall.
"I'm not one of those people who thinks the Great Depression is coming back, but there's lots of echoes. [...] I think we know more than we did then, and just the fact that we have a big federal government is a stabilizing factor. But the current problem is still pretty awesome."
At the same time, he admits that "what we're having looks like a minor-key version of the bank failures in the early 1930s. Now it's mostly not banks, it's markets that were serving the function of banks and institutions that were doing banklike stuff, and it's not as bad - at least so far. But it's a question. If we were actually having a string of bank failures, then we would know what to do. The government would essentially seize the banks and guarantee the deposits. But what do you do when you have a wave of failures of things like the auction-rate securities market, which was effectively a funny way of doing banking? If you look historically at other financial crises, they typically end up with big government bailouts. But how's that going to work in this case? We don't even know who to bail out. And part of the problem is we don't even know who owes what to whom."
I am wondering if today they really know more about troubles in the financial markets than in the 30's. The situation seems to be very different today - notwithstanding the perplexity about the economy's inner workings, which then as now seems do dominate. Not comforting, I would say...
What do you think?Sinister outcasts from Princeton's economist Krugman - He expects the US housing... more
-
-
Xizor
-
added this
-
4 years ago
- |
-
Mary Jones, a day trader, lost her job because of the volatile stock market. She takes a look at how our current economy is changing the face of trading. Mary Jones, a day trader, lost her job because of the volatile stock market. She takes... more
-
-
Anyone who's traveled around the world recently can vouch for the fact that the US dollar isn't the mighty currency it used to be. Adam Yamaguchi looks into the larger consequences of the weak dollar.Anyone who's traveled around the world recently can vouch for the fact that the... more
-
-
What does the nation's recession mean for Montana?
-
-
Not even luxury stores are immune from the recession... Are we?
-
-
The Akron Canton Regional Foodbank serves eight counties in Northeast Ohio and is bellwether for how a possible recession is affecting the area. With the decline of regional economic trade and prosperity, hunger and an increased need for emergency food aid are local indicators of the real issues facing average American families. This is a short pod about how things are looking in Akron Ohio from the perspective of the Akron Canton Regional Foodbank. CJ-Chris GreenThe Akron Canton Regional Foodbank serves eight counties in Northeast Ohio and is... more
-
-
new orleans isn't doing any better 2+ years after the storm and one of the major problems is the increase in the homeless population. my crew and i take you to new orleans' un-official homeless shelter aka under the Claiborne interstate overpass and let you see that the supposed southeast economic boom has yet to impact NOLA (new orleans, Louisiana for those of ya who ain't know)...
makes me wonder--->how did things get so bad? new orleans isn't doing any better 2+ years after the storm and one of the major... more
-
-
The Economy Is Going Off The Cliff.
If you can't tell, You must not be on earth
Funky Fingers explains!The Economy Is Going Off The Cliff.
If you can't tell, You must not be on earth... more
-
-
Ro_Lew
-
added this
-
4 years ago
- |
-
As the recent real estate market shocks have shown, the economy is a bit on edge these days.
Current correspondent Adam Yamaguchi and Current producer Grace Baek started this story a while back, and interviewed engineering students who claimed that their industry was being hollowed out by competition from abroad, who claimed their undergrad degrees didn't mean much, and that they'd have to get MBAs in order to attain jobs that wouldn't immediately be outsourced to other nations. They interviewed a Cal grad who lamented at the fact that, as a child of a solidly middle class family, she'd be unable to enjoy the same standard of living as her parents did.
How are you, and other Americans, doing economically today, and what are your prospects for the future? Do you believe you will be able to enjoy the standard of living that your parents did, or perhaps improve upon it? Are we about to see a fundamental shift in the American middle class?As the recent real estate market shocks have shown, the economy is a bit on edge these... more
-
-
tchang
-
added this
-
4 years ago
- |
-
That's supposed to be something like up to $800 in tax rebates for every tax payer--would they be doing this if we didn't fear recession? That's supposed to be something like up to $800 in tax rebates for every tax... more
-
