FROM E.S. "Jim" Browning
What's Driving the Dow's Record High? As we speak, the stock markets haven't closed today, but this morning, the Down Jones Industrial Average jumped 140 points to 14,198 — surpassing the record it set almost five and a half years ago. Columnist E.S. Browning has been watching the action for the Wall Street Journal .
The Personal Pinch of a Troubled Economy The Great Recession wreaked havoc with the economy, and the slow recovery is producing headlines about a possible "double-dip." Americans have a right to be worried, and they are. How potent is psychology as a force for making things better or worse?
Economics and High Anxiety The debt-ceiling debate , S&P downgrade , trouble in Europe, wild stock-market gyrations and warnings about a double-dip recession or worse… The grinding reality of long-term unemployment is taking a heavy toll, and it's a looming threat in workplaces around the country. What are consumers, investors and middle class people to think? How can they look past all the bad news and make rational economic decisions? What's the impact of the prolonged anxiety on individuals, families, neighborhoods and the economy itself?
Dow Wiggles Ever Downward, Springs Skyward After four days of declines, stocks in Asia jumped up today, 14 percent in Hong Kong, 7.8 percent in Tokyo and 15 percent in Seoul, South Korea. One Japanese investment researcher said, "Panic also means opportunities." So what happened on Wall Street ? Jim Browning writes under the byline E. S. Browning at the Wall Street Journal .
Wall Street Sharply Down Again on Bad Economic News There was some good news today about the credit markets with a drop in the interest rate at which banks lend to each other. But that wasn't enough for Wall Street. E.S. "Jim" Browning covers finance for the Wall Street Journal.
The Bailout That Wasn't and What Might Be Next The Wall Street rescue would have cost $700 billion taxpayer dollars. Its failure in Congress cost $1.2 trillion in private investment in just one day. President Bush warns that millions of Americans face " the real prospect of financial hardship " if the government doesn't take action. More important than stocks is the tightening of credit. A lot of the votes against the rescue came from members of Congress who feel vulnerable in next month's election. They were swamped with phone calls, letters and e-mails from both the Left and the Right. Are the interests of Wall Street and Main Street fundamentally different or really the same? Would any government action be better than none? Are we seeing " a political version of climate change " and a "new era of class warfare?"'
The Fed and Subprime Problems, Falling Dollar, High Oil Prices Federal Reserve Chair Ben Bernanke told Congress today the US economy is likely to slow, but what he did not say might be more important. There have been two bad days on Wall Street this week and increased concern that the housing meltdown will lead to recession. E.S. Browning reports for the Wall Street Journal .
Rupert Murdoch and the Wall Street Journal Will the Wall Street Journal fall into the hands of a " power-mad, rapacious right-wing vulgarian? " That's how The Atlantic magazine says many people view Rupert Murdoch , whose bid for Dow Jones , including the Wall Street Journal, was a shot heard around the worlds of American business, international finance and journalism. After what Murdoch's done with Fox News , the New York Post and other properties, at least some conservatives are rubbing their hands. The Journal's own reporters are among those pleading with other billionaires to make a competing offer. What does Murdoch want? What would his takeover mean for coverage of corporate America and stories like the rising power of China?
Stock Market Stabilizing after Massive Sell-off Despite yesterday's brutal international sell-off, Federal Reserve Chair Ben Bernanke told Congress today the stock markets are "working well" and he's not worried about the economy. Seeing "no material change" in expectations for the economy since his testimony before Congress two weeks ago, Bernanke, said he expects to see moderate growth and a rebound from the current slowdown by the end of this year. E.S. Browning reports for the Wall Street Journal .
Mixed Messages from US diplomats on the new hard line on Syria Since President Trump's surprise retaliation against Syria's use of chemical weapons, Bashar al-Assad has used the same airport to launch conventional attacks on his own people. It's not clear what the US, its allies — or Vladimir Putin's Russia -- plan to do now.
Why Don't Facts Matter? "Fake News" may have a long history, but social media and 21st Century politics have brought it front and center. One reason for its appeal and its power is the tendency of so many people to cling to their beliefs — even when confronted with contradictory evidence. Today, another look at the Emotional States of America.