Nov 05 Do you think Alan Greenspan really thought that the “bubble” would never burst? By Business Desk Question/Comment: It is my belief that Alan Greenspan is a strong follower of Ayn Rand’s philosophy of a free and unfettered economy. Do you think Greenspan really thought that the “bubble” would never burst? Paul Solman: Greenspan IS (or at… Continue reading
Nov 05 My conservative friends are convinced that this economic mess is the result of changes to Fannie and Freddie’s lending policies forced on them by the Democrats. Question/Comment: My conservative friends are convinced that this economic mess is the result of changes to Fannie and Freddie’s lending policies forced on them by the Democrats. My own theory identifies our chronic balance of payments as the chief culprit. Continue reading
Nov 03 Watch Across the World, Woes of Collapsed Bank Spread to Borrowers A European bank that lent millions to borrowers around the world, including a Wisconsin school district, needs a massive bailout, which has triggered financial woes among its clients. Charles Duhigg of the New York Times and Adam Davidson of NPR… Continue watching
Oct 31 Watch Stocks Remain Volatile After Worst Month in Decades Wall Street has endured its worst month in 21 years yet its best week in 34 years. The markets continue to remain unsettled on news of consumer spending cutbacks and investors' fears. The Wall Street Journal's economics editor analyzes the… Continue watching
Oct 31 When Economic Shifts and Elections Intersect: An Interview With Economist Ray Fair Paul Solman: Every presidential election year for awhile now, we’ve paid a visit to Yale professor Ray Fair. His computer model for predicting the race, based largely on economics, has become something of a national phenomenon… Continue reading
Oct 31 In Case You Missed It: Lessons of Great Depression Apply to Current Meltdown Editor’s Note: On Thursday, October 30, Paul Solman sat down with economist Eugene White and author Amity Shlae to talk about The Great Depression and what lessons can be gleaned from that era. Shlaes’ book is titled ‘The… Continue reading
Oct 30 Watch Lessons of Great Depression Apply to Current Meltdown The stock market crash of 1929 offers parallels to the spiraling financial crisis of the 21st century, giving insight to measures that can help correct the collapse. Paul Solman talks to two authors on the Great Depression who assess the… Continue watching
Oct 30 Watch Consumers Trim Spending in New Sign of Economic Downturn New data show that consumer spending fell 3.1 percent in the third quarter, its sharpest drop in 28 years. New York Times columnist David Leonhardt examines the latest numbers. Continue watching
Oct 30 U.S. Economy Shrinks as Consumers Slow Spending By Admin, PBS News Hour The Commerce Department reported Thursday the economy shrank at an annual rate of 0.3 percent in the July to September period, indicating that a recession may have already begun. Continue reading
Oct 29 Watch Fed Makes Aggressive Rate Cut in Bid to Loosen Credit Markets In a new move to stem the impact of the financial crisis, the Federal Reserve cut the federal funds rate by half a percentage point to 1 percent Wednesday. Krishna Guha, chief U.S. economics correspondent for the Financial Times, discusses… Continue watching