Jan 14 Retail Sales Sag 2.7% in December; Stocks Drop By PBS News Hour Retail sales dropped more than expected in December -- a sixth straight monthly slide -- as consumers took heed of an economy pummeled by a recession, credit squeeze and continuing job losses. Continue reading
Jan 13 Can We Really Compare Today’s Unemployment Numbers With Those During the Great Depresssion? Question/Comment: After the rebroadcast of your interview with Robert Solow I had a discussion with my daughter, who is a high school junior. She noted that Solow mentioned the unemployment rate in the Great Depression was 25 to 30… Continue reading
Jan 12 Why Can’t We Bail Out Americans Who Have Overcharged Their Credit Cards? Question/Comment: Sir, I am curious why no one is talking about a sure-fire way to assist over one hundred million Americans and put over one hundred billion dollars back into the economy every month. I am talking about a bail… Continue reading
Jan 12 Bush OKs Request to Seek Bailout Funds, Reflects on White House Tenure By Admin, PBS News Hour President-elect Barack Obama has asked President Bush to seek the remaining $350 billion of the $700 billion financial industry bailout, and Mr. Bush has agreed to do so, the White House said Monday. Continue reading
Jan 09 In Case You Missed It: Economists Explain Why Hints of the Economic Crisis Eluded Them By Business Desk Paul Solman reports from San Francisco on a conference for economists and why hints of a recession were missed. // ]> // ]]>… Continue reading
Jan 09 Watch Economists Explain Why Hints of the Economic Crisis Eluded Them Some of the nation's brightest economists failed to predict the foreclosure crisis and economic recession that followed. Paul Solman asks them why no one connected the dots in time to warn the public. Continue watching
Jan 09 Watch Report Faults Lax Oversight of Treasury’s Bailout Funds A congressional panel has criticized the Treasury Department's oversight of the $700 billion financial industry bailout. The panel's report says the rescue funds have failed to alleviate the foreclosure crisis and the department has not kept a thorough record of… Continue watching
Jan 09 Watch December Job Losses Compound Economic Woes Unemployment rose to 7.2 percent in December, the highest since 1993, according to a new report from the Labor Department. Employers cut 524,000 jobs, and some economy-watchers fear more cuts are still to come. Ray Suarez reports. Continue watching
Jan 09 Unemployment Rate Hits Highest Point in 16 Years By Admin, PBS News Hour A day after President-elect Barack Obama warned that the recession could "linger for years" unless Congress pumps money into the economy, a government report released Friday underscored the toll the downturn is having on workers and companies. Continue reading
Jan 07 Watch Unrest Spreads in China as Economy Worsens Chinese leaders are facing new pressures amid fears that a national social crisis is looming, brought on by millions of job losses and a surge in public protests. Nick Paton Walsh of Independent Television News reports. Continue watching