How To Be Less Confused About The Economy (with Kai Ryssdal)

[TIMELY UPDATE: on Friday afternoon the U.S. government re-opened temporarily. Details here. We will describe the shutdown as a present-tense thing in this episode because, as we’ll say early on, we taped this episode right before the government re-opened. Also we taped with that possibility in mind, so all our facts about the shutdown are accurate and are long-term focused.]

We are fresh off the longest government shutdown in American history (with another around the corner, maybe!). We are also riding almost a decade of of sustained stock market growth, almost a decade of sustained job growth, and all kinds of other business-y news you heard about. And when those stories crossed your cable TV screen or Twitter feed, did you have any idea what they meant? And if so…c’mon, are you sure you’ve got all the context?

On this week’s episode of The Cracked Podcast, Alex Schmidt sits down with Kai Ryssdal, the host of ‘Marketplace’ and the world heavyweight champion of that exact economic context you need. They’ll dig into how just one missed federal worker paycheck (let alone two!) ripples through the global economy for a long time. They’ll examine ways you can better understand what a stock market swing or jobs number actually means. Also stick around for valuable heads-ups on which chairpersons, directors, and CEOs tend to be extremely important indicators of our economic future, even though most people pay them no attention.

Footnotes:

Marketplace.org

Kai Ryssdal on Twitter

What the shutdown cost (Marketplace with Kai Ryssdal)

Trumponomics, two years in (Marketplace with Kai Ryssdal)

Fed survey shows 40 percent of adults still can’t cover a $400 emergency expense (CNBC)

The Chart That Shows the Financial Peril Facing Federal Workers (New York Times Opinion)

Federal shutdown accounts for 20 percent of unemployment claims in Colorado (The Denver Post)

Two Words From Fed Chairman Jerome Powell Sent Markets Soaring (The New York Times)

FACT CHECK: Who Gets Credit For The Booming U.S. Economy? (NPR)

19 times Trump called jobs numbers ‘fake’ before they made him look good (The Washington Post)

It’s Official: The Trump Tax Cuts Didn’t Pay for Themselves in Year One (The New York Times)

Trump’s tax cuts aren’t paying for themselves (Quartz)

Kai Ryssdal’s Twitter thread explaining tariff revenue

Whirlpool loved Trump’s tariffs. Now it’s struggling (CNN Money)

A $12 Billion Program to Help Farmers Stung by Trump’s Trade War Has Aided Few (The New York Times)

America’s Tariff Men: Connecting McKinley to Trump (The New York Times)

“Commercial wars are unprofitable. A policy of good will and friendly trade relations will prevent reprisals.” — President William McKinley, 1901

EXAMPLES OF ECONOMIC HEADLINES YOU MIGHT SEE

Here’s how the Drudge Report splashed job reports for Obama that were better than Trump’s (The Washington Post)

“Fed raises key rate to range of 2% to 2.25%, keeps forecast for 4 hikes in 2018” (USA Today)

“Fed’s Williams: ‘Strong’ outlook for 2019 calls for continued interest-rate hikes” (Marketwatch)

“The Trump economy is destroying the Obama coalition” (The Hill)

“The U.S. has a secret weapon in the trade war” (Yahoo News)

“Some business owners love the Trump tariffs” (Yahoo Finance)

Exciting Tour News!

See the first-ever Cracked Podcast LIVE TOUR this spring! Get your tickets now for: Thursday April 11th — Lincoln Hall, Chicago IL and Friday April 12th — Amsterdam Bar and Hall, St. Paul MN.

Read more: http://www.cracked.com/podcast/how-to-be-less-confused-about-economy-with-kai-ryssdal

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