Marketplace Morning Report for Thursday July 31, 2014
John Kerry is going to India, but India isn’t coming to Kerry. The country’s leaders have refused to sign a WTO deal, insisting on a compromise over grain stockpiles. The WTO deal reportedly could mean a trillion dollars in stimulus and 21 million new jobs. If it went through, what would that stimulus look like? Plus, more fallout from the housing crisis, this time for Bank of America. It's tacking on another billion dollars to its growing bill for passing off garbage mortgages as smart investments. Also, commentators have a habit of blaming whole generations for various economic troubles. Millennials are in the crosshairs a lot lately, accused of everything from shackling the housing market to setting the stage for the next global crisis with their student loan debt. Baby Boomers are getting abuse, too. Some market watchers worry that as they sell their stocks to pay for retirement, the whole market will sag.