It's been a turbulent couple of days for financial markets around the world. Japan's biggest stock market saw its worst day in decades. Corporate earnings disappointed investors. And last week's jobs report here in the US showed disappointing numbers. Is this a sign of a recession or just some temporary turbulence? Today, we speak with two economic analysts to make sense of what's really going on.
Related:
Matt Klein's newsletter "The Overshoot"
Why are we so bummed about the economy? (Apple / Spotify)
The Sahm Rule With The Eponymous Economist
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Honestly with Bari Weiss - What to Do When the Market Drops? Call Larry Summers.
On Monday, the markets had one of its worst trading days since the 2008 financial crisis. Stocks tumbled around the world, with a global sell-off, amid fears of a recession. The VIX (an index often called “Wall Street’s Fear Gauge”) was at times today as high as we saw it when the economy was shutting down for Covid.
This comes on the tail of a pretty insane news cycle: a presidential assassination attempt, Joe Biden dropping out of the race, the coronation of a new Democratic nominee, a stolen election (actually) in Venezuela, a Middle East on the brink of war. . . should I go on? But the most pressing issue to most Americans is and always has been the economy.
And with everything else going on, many of us have been paying far too little attention to the economic story here at home, and the policies that may have brought us to this moment we find ourselves in today.
To explain how we got here is Larry Summers. Summers was Secretary of the Treasury under President Clinton, and he was the director of the National Economic Council under President Obama. He was president of Harvard for five years. And he is one of the world’s most prominent economists.
Today: What is going on in the market? What caused it? Was it avoidable? What happens next? And what are the long-term repercussions?
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CBS News Roundup - 08/05/2024 | World News Roundup Late Edition
Several US personnel injured in rocket attack on Iraq base. Hurricane Debby brought more than powerful winds and storm surge to Florida.
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The Gist - Bear Market
On a day when the Dow dipped considerably, we're joined by Kayla Scanlon, the coiner of "vibe session" and author of In This Economy? How Money and Markets Really Work. Plus: RFK. Bear. A bicycle. A coverup. A recap in story and song.
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State of the World from NPR - Israel Waits for Retaliation From Iran; Some West Bank Men Want to Become Martyrs
Iran has vowed to strike Israel following the assassination of a Hamas leader on Iran's soil. We hear from Israelis watching and waiting as they know an attack is coming but the don't know when.
And in the West Bank, the war between Israel and Hamas has sparked an increase in Palestinian men wanting to die fighting Israeli occupation.
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And in the West Bank, the war between Israel and Hamas has sparked an increase in Palestinian men wanting to die fighting Israeli occupation.
For more coverage of all sides of this conflict, go to npr.org/mideastupdates
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Reset with Sasha-Ann Simons - Breaking Makes Olympics Debut, Joining Skateboarding and Surfing
This year, breaking – aka breakdancing – is joining the Olympics. The dance sport joins a score of other recent additions, like surfing, skateboarding, and sports climbing.
Reset spoke with a couple of local superfans of these sports for more on what they’re excited to see at the Olympics, and finds out more about what the local surfing and skateboarding scenes look like in Chicago.
For a full archive of Reset interviews, head over to wbez.org/reset.
Cato Daily Podcast - State of Emergency: An Economic Analysis
Many states declared states of emergency during the recent pandemic, and those declarations conferred fresh powers to the executive branch. What do those powers do in terms of saving lives? Christian Bjørnskov is coauthor of State of Emergency: An Economic Analysis.
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First Things Podcast - Education in a Pluralist Country
In the latest installment of the ongoing interview series with contributing editor Mark Bauerlein, Ashley Rogers Berner joins in to discuss her new book, “Educational Pluralism and Democracy: How to Handle Indoctrination, Promote Exposure, and Rebuild America’s Schools.”
Music by Jack Bauerlein.
The Daily Signal - Harris Chooses Running Mate, Stock Market Tumbles, Biden Convenes National Security Team Over Middle East Threat | Aug. 5
TOP NEWS | On today’s Daily Signal Top News, we break down:
- Vice President Kamala Harris will announce her pick for a running mate on Tuesday.
- The Dow Jones, NASDAQ, and S&P 500 fall amid fears of a coming recession.
- The U.S. believes an Iranian attack on Israel is likely coming soon.
- The spread of misinformation online led to widespread rioting in Britain over the weekend.
- The Quiet Skies program is monitoring former U.S. Representative and Presidential candidate Tulsi Gabbard.
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Consider This from NPR - They are Olympic athletes — and refugees
There are some 43 million refugees in the world, according to the U.N.'s refugee agency.
The 37 of them competing in Paris as the Refugee Olympic Team are fighting for something more than just athletic excellence.
We hear from judoka Muna Dahouk and kayaker Saman Soltani.
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The 37 of them competing in Paris as the Refugee Olympic Team are fighting for something more than just athletic excellence.
We hear from judoka Muna Dahouk and kayaker Saman Soltani.
For sponsor-free episodes of Consider This, sign up for Consider This+ via Apple Podcasts or at plus.npr.org.
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