Weekly Wrap: The slow economic recovery

Marketplace Staff May 27, 2011
HTML EMBED:
COPY

Weekly Wrap: The slow economic recovery

Marketplace Staff May 27, 2011
HTML EMBED:
COPY

Kai Ryssdal talks with Marketplace New York Bureau Chief Heidi Moore and Reuters’ Felix Salmon.

On the slow GDP growth:

Felix Salmon: We’re not growing. We’re not creating jobs. We’re not having a vibrant recovery. Often, when you look at other countries, they tend to grow very fast after having a big economic drop, because people will just bounce back to where they were before. Doesn’t seem to be happening here. In the real economy — outside of Wall Street, which is making loads of money — you know, there doesn’t seem to be growth. When companies get those profits, they don’t seem to be spending them on hiring new people and growing this. They’re saving them and going, “Oh wow, I saved $1!” instead of investing it.

On the European debt crisis:

Heidi Moore: If we do get a bailout, it won’t make any difference, because it’s the same movie just running on repeat again and again. We’re bailing out the banks that lent these countries money, and we’re keep on doing it until the countries figure out their austerity measures.

For more, click on “Listen to the story” at the top of the page.

We’re here to help you navigate this changed world and economy.

Our mission at Marketplace is to raise the economic intelligence of the country. It’s a tough task, but it’s never been more important.

In the past year, we’ve seen record unemployment, stimulus bills, and reddit users influencing the stock market. Marketplace helps you understand it all, will fact-based, approachable, and unbiased reporting.

Generous support from listeners and readers is what powers our nonprofit news—and your donation today will help provide this essential service. For just $5/month, you can sustain independent journalism that keeps you and thousands of others informed.