To the Point
Economic Decline in a Culture of Credit
Americans are carrying $2.5 trillion in consumer debt. The average household owes credit card companies $8,500. Will that be the next bubble to burst? Also, Barack Obama speaks in Berlin, and another disaster in the river off New Orleans.
By Warren Olney • • 1h 0m ListenAmericans are carrying $2.5 trillion in consumer debt. The average household owes credit card companies $8,500. Will that be the next bubble to burst? Will consumers change their behavior to meet the challenges of a troubled economy? Also, Barack Obama speaks in Berlin, and an oil spill has closed the mouth of the Mississippi River to shipping but not to pollution, creating threats to wetlands and the water supply.
Photo: Joe Raedle/Getty Images
In this episode
3 storiesObama Speaks in Berlin
In a warm, summer night in Berlin, Barack Obama addressed an enormous crowd, estimated by some to be 10,000 people. The Senator talked about a world where walls have come down leaving nations more intertwined than ever before. Karsten Voigt is coordinator for German-American cooperation at the German Foreign Office.
Read the story6 minPredatory Lending and Shrinking Buying Power
There may be fewer paper towels in the package than there used to be, but you're still paying the same price. The same is true for dog food and trash bags. "Hidden inflation" in supermarkets is just one sign of how consumers are affected by a troubled economy, even though they don't notice.
Read the story35 minTugboat Slams into Barge, Spews Diesel into Mississippi
From New Orleans to the Gulf of Mexico, a massive oil slick has spread over 100 miles of the Mississippi River. It's the result of yesterday's collision between a double-hulled tanker and a barge filled with heavy diesel.
Read the story8 min
