The Economy

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In the third quarter of this year, America's Gross Domestic Product grew faster than it has for the past 19 years. Business investment was on the rise, but the real engine was consumer spending on big items. The downside is still jobs which aren't yet beginning to keep up. Is a "jobless recovery" a real recovery? The annual growth rate for the Third Quarter wasn't 5 percent as economists forecasted, but to everybody's surprise even 7.2%. We talk about the latest development in US economy with a professor of Economics and International Affairs, John Shoven, director of the Stanford Institute for Economic Policy Research, a senior economist and the Executive Director of the American Stockholders Association. Making News: Chaos in Iraq --UN Temporarily Pulling Out Secretary General says the violence in Iraq has entered a "new phase," and he's pulling remaining United Nations personnel out of Baghdad. Meantime, Iraq was hit by a string of explosions. Simon Robinson follows the development in Iraq as correspondent for the Times Magazine. Reporter's Notebook: American Urbanites Re-Colonizing Rural Landscapes California's raging fires illuminate an international issue: the interface between urban centers and wild lands. California's wildfires have taken 20 lives, scarred hundreds of thousands of acres and burned up 2400 homes. This week's devastating fires are not destroying California's major cities, but the sprawling suburbs the developments that are springing up further and further away from the urban centers. Stephen Pyne, professor at Arizone State University, has written many books on environmental history and history of fire.
In the third quarter of this year, America's Gross Domestic Product grew faster than it has for the past 19 years. Business investment was on the rise, but the real engine was consumer spending on big items. The downside is still jobs which aren't yet beginning to keep up. Is a "jobless recovery" a real recovery? The annual growth rate for the Third Quarter wasn't 5 percent as economists forecasted, but to everybody's surprise even 7.2%. We talk about the latest development in US economy with a professor of Economics and International Affairs, John Shoven, director of the Stanford Institute for Economic Policy Research, a senior economist and the Executive Director of the American Stockholders Association.
  • Making News: Chaos in Iraq --UN Temporarily Pulling Out
    Secretary General says the violence in Iraq has entered a "new phase," and he's pulling remaining United Nations personnel out of Baghdad. Meantime, Iraq was hit by a string of explosions. Simon Robinson follows the development in Iraq as correspondent for the Times Magazine.
  • Reporter's Notebook: American Urbanites Re-Colonizing Rural Landscapes
    California's raging fires illuminate an international issue: the interface between urban centers and wild lands. California's wildfires have taken 20 lives, scarred hundreds of thousands of acres and burned up 2400 homes. This week's devastating fires are not destroying California's major cities, but the sprawling suburbs the developments that are springing up further and further away from the urban centers. Stephen Pyne, professor at Arizone State University, has written many books on environmental history and history of fire.

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Warren Olney