FROM Rana Foroohar
The Paradox of Rising Indicators in a Troubled Economy In 2009, the Dow Jones Industrial Average bottomed out at 6,500. Since then, it's more than doubled, with another record closing last week at 15,354. Standard & Poor's and other market indexes are also setting records and housing construction is showing signs of a restoration. But eight million people are still out of work, and a smaller percentage of people own homes than a decade ago. Is it time to feel good again about the economy or not? Are we in for increased prosperity or bursting bubbles? We get a reality check.
Can a Divided Europe Save Its Common Currency? America's economic future will depend in part on what happens in Europe, so the crisis over the Euro demands our attention. The Eurozone is divided between prosperous countries like France -- and especially Germany — and debtor nations, including Greece, and now Italy. The strong are needed to bail out the weak, but so far there's not enough trust for the strong to provide big money or the weak to accept austerity. Can un-elected European technocrats, trained on Wall Street, overcome the politics of independent nations? Why is it all so important to the United States?
No Economic Downturn in China Two things most Americans associate with China are astonishing economic growth and mind-boggling pollution. But growth also means stock-market and real-estate bubbles, a shrinking private sector and a restive working class. Now China’s trying to go green at the same time it builds coal plants and imports oil.
In China, the Recession Is Over — or Is It? With a massive government stimulus that's fueled a frenzy of building, China's economy grew by 8.9% in the third quarter, compared to the United States' 3.2%. But growth also means stock-market and real-estate bubbles, a shrinking private sector and a restive working class. Emphasis on manufacturing has created world-class pollution, and now China's trying to go green at the same time it builds coal plants and imports oil. Does China, holding 23% of America's debt, threaten this country's interests? Will global problems force the US and China to be partners as well as competitors?
Rising Oil Prices, Changing Lifestyles and Consumer Choices The spiraling cost of gas is hitting hard everywhere. Truckers and fishermen in Europe are protesting prices that have reached $10 a gallon. As hearings were held in the US Senate today about whether oil prices are being manipulated by speculators, General Motors announced that it is closing four SUV and pick-up plants, along with plans to roll out more fuel efficient vehicles. What kind of long-term changes are in store? Have Americans reached the tipping point in terms of their consumer lifestyle? Will suburbs be forced to transform into small towns?
White House budget proposal slashes and burns President Trump's first budget request is considered dead on arrival in Congress — a familiar development in Capitol Hill. We hear what it reveals about the priorities of the new administration. What's likely to die… and what might survive?
Janesville and the American Dream Janesville, Wisconsin is the hometown of Republican House Speaker Paul Ryan. But he couldn’t prevent the closing of the General Motors factory after 100 years. On this Memorial Day rebroadcast of To the Point, we hear what’s happened to what once was a model of American middle-class unity.
Ex-FBI Director Comey tells his side of the story Today, former FBI Director James Comey came close to calling the President who fired him a liar. The White House denied the claim and called it insulting, but Republican Senators did not challenge Comey’s truthfulness. Many questions remain: did the President try to obstruct a federal investigation? Later, we’ll go behind the “velvet rope” for a look at 5-Star health care for the richest Americans.
Will the Senate write a healthcare bill in secret? While Democrats and Republicans argue White House relations with Russia, another question is being decided behind closed doors: who gets help buying health insurance and who doesn't? We hear how the pros and cons are being shrouded in secrecy.