FROM Dean Calbreath
Wall Street, Main Street and Economic Crisis The finger of blame for the worst economic mess since the Great Depression has been pointed mainly at Wall Street, but what about Main Street, where ordinary Americans were living on credit cards and subprime mortgages, borrowed money might never pay back? The Christmas season was as dismal as had been expected? On this archived discussion of To the Point, it's worth asking, as we did in October, about economic recovery. Does China's high savings rate and few credit cards offer a better model? Will the crisis change America's values?
Consumer Complicity in the Credit Crisis The finger of blame for the worst economic mess since the Great Depression has been pointed mainly at Wall Street. But what about Main Street, where ordinary Americans have been living on credit cards and sub-prime mortgages, borrowed money they'll never pay back? Now that the roof's falling in, can consumers afford to continue spending? If they don't, what happens to economic recovery? China's consumer economy is booming, with a high savings rate and very few credit cards. Is that a better model? Will the crisis change America's values? We'll raise these and other questions today.
San Diego Rebuilding Costs to Soar As they do after every round of wildfires, thousands of victims are promising to rebuild, but that will be more expensive than it’s been in the past. Since San Diego’s Cedar and Paradise fires in 2003 , the cost of residential construction has been going up by as much as 35 to 45 percent.
Trump's ethical conflicts pile up as transparency diminishes President Trump's refusal to reveal his income tax returns is just one example of a lack of transparency that could be hiding conflicts of interest. Other conflicts are already obvious from his appointments. And he's being sued for using his job to increase his profits.
Nuclear crisis on the Korean Peninsula slowly coming to a head North Korea did not conduct a nuclear test this weekend, but it did show apparent progress in developing a missile that that could strike the United States. The Trump Administration says it has lost its "strategic patience." We hear what that might -- or might not -- mean for North Korea, China and the prospects for diplomacy.