Dec 04 Global Banks Chop Interest Rates as Crisis Grows By Admin, PBS News Hour More central banks across the world cut interest rates Thursday, hoping to quash a global economic slump that is spreading faster than policymakers had anticipated. Continue reading
Dec 04 Auto Execs Renew Case for Government Aid By PBS News Hour Leaders of Detroit's Big Three automakers returned to Capitol Hill Thursday to renew their case for an expanded $34 billion rescue package, but heard fresh skepticism from lawmakers on their plea. Continue reading
Dec 03 Watch Ford CEO Promises Shift to Smaller Cars, Greater Efficiency if Industry Survives By the week's end, lawmakers will review business plans submitted Tuesday by Detroit's Big Three. Ford CEO Alan Mulally explains his auto company's proposal to avoid bankruptcy. Continue watching
Dec 03 Riots Break Out as Zimbabwe Faces Cholera Epidemic, Hyperinflation By PBS News Hour Doctors, teachers and union members clashed with riot police in the streets of Zimbabwe's capital of Harare as they protested the country's deepening economic meltdown and a cholera epidemic that has been blamed on poor infrastructure. Continue reading
Dec 03 The Whole World is Drowning, How Long Before Somebody Turns Off the Faucet? Question/Comment: Yesterday I saw a TV ad for mortgages to people with no credit history, job or social security number. The whole world is drowning, how long before somebody turns off the faucet? Paul Solman: There’s got to be a… Continue reading
Dec 03 Rising Tuition, Credit Crunch Threaten Affordability of Higher Education By PBS News Hour A new study on American higher education gave all but one state a failing grade on affordability, and warned that college could soon be out of reach for most Americans. Continue reading
Dec 02 Why Didn’t Bankruptcy Work For Lehman Brothers? Question/Comment: Dear Mr Solman, Many of the “experts” I hear on PBS and NPR think that bankruptcy would be a workable solution for the auto companies. I agree,… Continue reading
Dec 02 Big Three Automakers Submit Plans to Congress By PBS News Hour The three biggest U.S. automakers -- Ford Motor Co., General Motors Corp., and Chrysler LLC -- submitted plans to Congress on Tuesday, in hopes of getting a line of credit from the government to keep their companies in business. Continue reading
Dec 02 Are These Economic Problems Caused By Too Many People on Earth? Question/Comment: Is the final answer to all these economic problems the fact that there are now too many people on Earth? For example, how can U.S. labor make any money when Chinese workers will work for a nickel an hour?… Continue reading
Dec 01 Stocks Pummeled as Recession Becomes Official By Admin, PBS News Hour A group of academic economists confirmed on Monday suspicions that the troubled U.S. economy is in a recession, saying the economic downturn began in December 2007. Continue reading