To the Point
If the Dow's Up, Why Are Housing and Jobs Still Down?
The Dow hit 13,000 this week, yet housing and consumer spending continue to limp along. Terrence McNally explores the continued gap between Wall Street and Main Street.
By Terrence McNally • • 51m ListenThe stock market's roaring, and applications for unemployment are down, but there was disappointing news in Thursday's economic data. In January manufacturing growth slowed, construction spending dipped, and Americans' after-tax income fell, leading to a fourth straight month of weak consumer spending. Guest host Terrence McNally explores the continued gap between Wall Street and Main Street, and what we can do about it. Also, Iranians vote between hard-line candidates in parliamentary elections, and Russians go to the polls Sunday, with Putin expected to win. Has anything changed?
Banner image: A construction worker cuts a piece of wood on the top of a home under construction at a new housing development in Petaluma, California. Photo by Justin Sullivan/Getty Images
In this episode
3 storiesIranians Vote between Hard-Liners in Parliamentary Elections
Iranians went to the polls in parliamentary elections today. With many reformists and opposition leaders not participating, the vote is a contest between hard-line supporters of President Mahmoud Ahmadinejad and Supreme Leader Ayatollah Ali Khamenei. Pressure from the West over Iran's nuclear program has been a central issue.
Read the story8 minThe Continuing Disconnect between Wall Street and Main Street
Although it's down a bit today, the Dow hit 13,000 this week for the first time since May, 2008. NASDAQ flirted with 3000. One US company, Apple, is now valued at over $500 billion, higher than the gross domestic product of Poland, Belgium, Sweden, Saudi Arabia or Taiwan.
Read the story36 minHow Will Putin Fare in Russian Elections Sunday?
Vladamir Putin is almost certain to regain the presidency in elections in Russia on Sunday, but that victory may be more a reflection of voters' resignation than broad support for his twelve-year rule.
Read the story8 min
