In recent months, the U.S. business world has been hit with troubling economic news, ranging from the subprime mortgage crisis to the Bear Stearns bailout to the plummeting value of the dollar. Paul Solman explains the factors that have led to the recent downturn. Continue reading
As the value of the dollar falls, the price of imported oil rises, which impacts costs from the gas pump to the grocery store. A reporter from the Wall Street Journal examines the current state of oil prices. Continue reading
As the value of the dollar has fallen, the U.S. economy has had to adjust in a multitude of areas. While some sectors have benefitted from cheaper U.S. exports, others have felt the pinch of inflation. Paul Solman examines the impact of the dollar’s value. Continue reading
Raul Castro was confirmed as Cuba’s president Sunday, after last week’s announcement that his ailing brother, Fidel Castro, would step down after decades in power. Two experts on Cuba discuss the prospects for reforms in the country and relations with the United States. Continue reading
- It’s been a long time since I took Econ. 101, but as I remember, if you keep printing ever-greater amounts of currency, inflation takes on a life of its own.
Question/Comment: It’s been a long time since I took Econ. 101, but as I remember, if you keep printing ever-greater amounts of currency, inflation takes on a life of its own. Isn’t that what we’ve been doing at the rate … Continue reading
- How can such enormous debt be sustainable and what happens to the world economy if the U.S. defaults?
Question/Comment: I am a Canadian. Unfortunately, 87 percent of our trade is with America. Consequently, U.S. recessions are felt more deeply in Canada. However, my questions are about the American debt. My understanding is that the debt could reach $10 … Continue reading
- I always hear about the Chinese keeping their currency at an artificial rate to help exports. Where would the cost of doing that show up?
Question/Comment: I always hear about the Chinese keeping their currency at an artificial rate to help exports, but I know from trying to hold a lid on a boiling pot that the pressure is going to come out somewhere. If … Continue reading
This installment’s “guest vetter” is Martin Neil Baily, now with the Brookings Institution. He was chairman of President Bill Clinton’s Council of Economic Advisors and is a certified VKP (very knowledgeable person). If you wish to be even more suitably … Continue reading
U.S. Treasury Secretary Henry Paulson speaks with Jim Lehrer about World Bank President Paul Wolfowitz’s troubles, the potential impact on the international body, and U.S.-China economic relations ahead of Paulson’s meeting with Chinese officials next week. Continue reading
The U.S. Mint released into circulation millions of gold-covered dollar coins bearing the likeness of George Washington Thursday. U.S. Mint Director Edmund Moy discusses the decision to introduce the coin, after previous attempts to do so were unsuccessful. Continue reading