Week of January 22nd, 2018

Plus: A rising GDP but a "weak" dollar?

#CrockPotIsInnocent, the company says.

It's not always worth it for the host city.

The stage is getting set for a fight over net neutrality. The Federal Communications Commission rolled back the federal rule last month, clearing the way for internet service providers to throttle or favor content. But states have other ideas. The governors of Montana and New York have signed executive orders to mandate net neutrality under their jurisdictions, and 21 states and the District of Columbia have sued to overturn the decision by FCC Chairman Ajit Pai. Plus, we’ll talk about the GDP numbers, the latest on California’s mudslides and Trump’s speech in Davos, Switzerland.

Clearing 11 basins filled with dirt and rock will take until the end of February at least, federal officials say.

Proposed immigration policy, a discussion about funding schools based on poverty rates and a visit to Montecito after fires and mudslides. Plus, new stories from Marketplace’s Divided Decade coverage.

The numbers he brought up don’t paint the whole picture.

(Markets Edition) Trump delivered a 15-minute speech at the World Economic Forum, where he touted the performance of the U.S. economy. Figures for global economic growth have also been looking good, but BBC reporter Joe Miller joins us to explain why things may not be as positive as they seem. Afterwards, we’ll hear from Chris Low, chief economist at FTN Financial, about the weakening dollar, and then look at the state of the manufacturing industry. 

Growth was spurred by a surge in consumer spending, but the gain was slightly below economists’ 2.8 percent forecast.

Could Topo Chico, Ironbeer and Jarritos help save Coke and Pepsi?

(U.S. Edition) The White House has released a framework that would create a path to citizenship for people who arrived in the U.S. as undocumented immigrant children, but the plan comes with some caveats. We’ll talk about what those are, and the pushback this proposal is receiving from both Republicans and Democrats. Afterwards, we’ll discuss Apple’s foray into the smart speaker market through the release of its HomePod, which comes with a price tag of $349. Then to cap off today’s show, we’ll look at how some states are taking a cue from Germany’s apprenticeship model to fill manufacturing jobs.

Manufacturers are worried they will not have enough skilled workers in the future, so they have started to create apprenticeship programs to train high school students.

(Global Edition) From the BBC World Service…The British economy expanded more than expected in the last three months of 2016, but it’s experiencing a short-term Brexit drag, according to Bank of England governor Mark Carney. What can be done to combat it as trade negotiations continue this year? Then, Blockchain has made a big splash on Wall Street but it’s so much more than bitcoin. We went to the fourth annual Blockchain Week in London to find out how businesses are using the technology. Afterwards, more than $10 million will be spent at auction of more than a thousand top cricket players for the Indian Premier League. 

Facebook is asking its users what news sources they consider trustworthy. They’re asking two questions: Do you know this website, and how much do you trust it? On Marketplace Tech, our the two questions are: Will that yield useful information, and isn’t the crowd part of the problem? Molly Wood talks about it with Sarah Frier, a tech reporter for Bloomberg.

There are people who argue there are just too many federal regulations with criminal consequences, that with thousands of potential criminal acts on the books, how can you know if you’re doing something wrong? And that argument has some very powerful forces behind it. In this episode, we look at the issue that’s come to be known as “overcriminalization,” and the debate about what’s a crime worth enforcing and what’s bureaucratic overreach.

The business is booming. And the reason may have to do with regulations.

Businesses are making plans in case they are raided by ICE.

Ahead of his big speech in Davos, Switzerland, tomorrow, President Donald Trump told CNBC that while he prefers bilateral trade deals, he’d be open to a bigger agreement like the Trans-Pacific Partnership if the U.S. gets a “substantially better deal.” Catch is, the 11 Asia Pacific countries still in the TPP came to an agreement this week without the U.S. Then: Ten years ago this week, the American housing market posted its biggest year over year drop since 1973. The housing crisis was in full effect, the spillover into the financial system was coming and we were already a month into the Great Recession, even though we didn’t know it at the time. We’ll take a look back. Plus: The economics of beer.

Lessons learned from the Divided Decade.

A foreclosure wave is coming.

Some neighborhoods saw prices fall 85 percent.

(Markets Edition) President Trump is set to give his speech tomorrow about “America First” at the World Economic Forum in Davos, a gathering of the world’s political, business and thought leaders. Could all of the rhetoric and policy coming from the Trump administration set the country up for a trade and currency war? We’ll dive into that question, and then look at a more domestic issue: housing. There’s been talk that another bubble could arise, based on factors like the country’s sky-high housing prices.

(U.S. Edition) Earlier this week, the Trump administration announced plans to raise tariffs on imported solar panels and washing machines. While these measures could actually end up hurting workers, some manufacturing areas like Greenville, Michigan, see it differently. Mike Huckleberry, formerly of the Michigan State House of Representatives, joined us to explain why. Afterwards, we’ll discuss Congress’ plan to reboot the nation’s student financial aid system.

Millennials are now entering those prime house-buying years.

(Global Edition) From the BBC World Service … If you had two minutes with President Trump, what would you say? We put that question to world leaders at the World Economic Forum in Davos.  Then, before the 2016 Brexit referendum, JPMorgan Chase CEO Jamie Dimon warned about shifting thousands of his bank’s London jobs elsewhere in the European Union. Now, he shares revised forecasts for his operations doing business in Europe. Afterward, a chat about cutting plastic waste with Procter & Gamble’s head of global sustainability, Virginie Helias. 

A former Democratic state politician says the taxes are one of the few things the president has done that he can support.

Outrageous behavior gets lots of views — and could push others to do the same.

People have been posting increasingly controversial videos to YouTube. YouTube star Logan Paul posted a video showing the body of a suicide victim. Other videos show teenagers eating detergent-filled Tide Pods. In the wake of these incidents, YouTube has changed the way it shares revenue with creators. But does the money involved with YouTube just provide incentive for crazier stunts? Marketplace Tech host Molly Wood talks with Sarah Roberts, a professor of information science at UCLA. 

Timothy Mayopoulos joined Fannie Mae a few months after it was taken over by the government. Today, he's the CEO.

It was a great idea when it started. Now, it's become a bit of a joke.

We’re gonna spend some time today with the dollar. The greenback. The world’s reserve currency. Treasury Secretary Steven Mnuchin said something truly extraordinary today: “Obviously, a weaker dollar is good for us, as it relates to trade and opportunities.” It’s been the stated policy of the American government for decades that we want a strong dollar that inspires confidence in the American economy. So we’ll start today’s show looking at all the different angles of the value of the dollar. Plus, why the Do Not Call list won’t save you from robocalls, and an interview with Fannie Mae CEO Tim Mayopoulos. 

(Markets Edition) Now that the U.S. Farm Bill is up for authorization this year, we’ll take a look at what exactly the measure entails. It turns out that it’s not a bill that just impacts farmers, but one that arguably intersects with the lives of every single American. Afterwards, we’ll discuss a policy change happening at the railroad freight company CSX, following the death of its CEO late last year. CSX will now require its chief executive officers to get annual physical examinations. Plus: As part of our new series Divided Decade, we’ll hear from Nikki Jackson, a resident from Waldorf, Maryland, about how the financial crisis affected her.

(U.S. Edition) At the big gathering of politicians and business leaders in Davos, Switzerland today, France, Germany and Italy are set to speak. We’ll tell you what’s on their agenda. Afterwards, we’ll take you to the Cleveland, Ohio, neighborhood of Slavic Village as part of our new series “Divided Decade,” which looks at how the financial crisis and aftermath changed America. On this day, 10 years ago, the National Association of Realtors showed the first annual drop in median home prices in four decades. Slavic Village was hit particularly hard with foreclosures. What was it like for the region back in 2008, and how’s it doing now?

(Global Edition) From the BBC World Service…A Brazilian court will decide today whether to uphold a corruption conviction of former president Luiz Inacio Lula da Silva, who has become the frontrunner in the presidential election taking place this October. Then, as tech behemoths continue to see potential in India’s online market, Google is on the hunt for its next million users. We’ll tell you what a partnership with one local start up could mean for its growth in the country. Afterwards, mobile banking is changing the way people live, work and transact in Nigeria. The leader of Diamond Bank, an attendee at the World Economic Forum in Davos, explains how the technology is playing a vital role in helping lift citizens out of poverty.

Sure, no lines sounds great, but is being constantly monitored worth the trade-off?

Amazon just opened its first automated convenience store with no lines and no checkouts. The company uses computer vision and sensors to monitor what people are taking. But in order to avoid the lines, people are giving up their ability to shop without constantly being monitored. Marketplace Tech host Molly Wood talks about it with Joe Turow, the author of the book “The Aisles Have Eyes.” 

Wrangling internet privacy, media consolidation and “filter failure.”

Ten years ago this week, the Fed unexpectedly slashed interest rates at an unscheduled meeting. It was the first of many "bold" actions by the Fed during the financial crisis.

Ten years ago this week, the Fed unexpectedly slashed interest rates at an unscheduled meeting. This was early in the slow-motion collapse of the American economy, and it was in some ways a warning of how bad the recession was gonna get, and a giveaway as to how little we actually knew about what was coming. We’re looking back at that decision today as we kick off Divided Decade, our yearlong project on the financial crisis and its aftermath. We’re also bringing you a story about how the crisis changed one Dreamer, and we’re hoping you’ll share yours. Plus, what you need to know as the World Economic Forum kicks off in Davos, Switzerland. 

(Markets Edition) With the Trump administration deciding to hit imported washing machines and solar products with tariffs, we’ll chat with Michael Webber — deputy director of the Energy Institute at the University of Texas, Austin — about whether this will actually help the solar industry. Afterwards, we’ll talk to David Kelley, chief global strategist at JPMorgan Funds, about how the market is doing now that the government shutdown is over and the economic stability of different countries around the world. Plus: A look at the growing gap between the rich and the poor, despite the global economy’s growth.

(U.S. Edition) The Trump administration is trying to impose new tariffs on imported washing machines and solar products. We’ll look at the White House’s reasoning behind this, and how China and South Korea are taking the news. Afterwards, with today’s kickoff of the World Economic Forum, we’ll discuss how global economic growth is doing, and how world leaders feel about President Trump.

(Global Edition) From the BBC World Service …There’s “grand synchronization” in global growth and a doubling down on efforts to reduce inequality of all kinds. We’ll bring you the very latest from the World Economic Forum in Davos, Switzerland.  Then, the Ivory Coast exports more cocoa than any other country in the world…but why is as much as one-fifth of it now smuggled east into neighboring Ghana? 

Even a short shutdown can have lasting effects on science and technology.

This government shutdown was only three days long, but the budget impasse is not over. Agencies that are reliant on the government for funding are still left wondering how much money they have to spend — and when it’ll be available. Marketplace Tech host Molly Wood talks about the loss to innovation with Nicol Turner-Lee, a fellow at the Center for Technology Innovation at the Brookings Institution.  

Lisa Goldenberg, president of the Delaware Steel Co., on how "the bar's been pushed way out."

When all is said and done, this week’s government shutdown will have lasted 60 hours, give or take. There’s a deal in place that’ll get things back to normal by tomorrow morning. But what’s “normal” even mean? We might be getting used to government run on a deadline, three weeks at a time or so, but that’s not exactly “normal.” And yet, the economy seems to be giving that not-normalcy a pass. That’s where we’re starting today’s show. Then, we’ll get the real issue underpinning the shutdown, one that hasn’t been resolved yet: What’s the vision for immigration in this country? President Donald Trump and some Republicans in Congress are pushing to dramatically reduce legal immigration to the United States, and to move the overarching concept from family reunification to a skills-based system. That means fewer workers in an already tight labor market, and it’s making some businesses anxious. Plus, introducing our latest project: Divided Decade.

The temporary funding bill would reopen the government through Feb. 8.

(Markets Edition) The GOP may have succeeded in passing a bill to overhaul America’s tax system, but there are still obstacles in the way. Namely the government shutdown that happened on Friday. We’ll look at how the shutdown will affect the IRS and its ability to implement the new tax law. Afterwards, we’ll talk to Randall Kroszner, a University of Chicago professor who served as a governor of the Federal Reserve from 2006 to 2009, about what the atmosphere was like during the financial crisis. Our interview is part of our new series Divided Decade, where we’ll look at how the financial crisis and its aftermath changed America.

What's a would-be cryptocurrency investor to do?

(U.S. Edition)  Now that the federal government has been shut down, some federal agencies have furloughed workers. With over half of the staff at the Centers for Disease Control deemed “nonessential,” we’ll look at some of the tasks that may go unmanaged. Afterwards, we’ll talk to Yale professor Andrew Metrick about whether the Federal Reserve could have handled the financial crisis better — a conversation that’s part of our new project Divided Decade. In the series, we’ll explore how the financial crisis and its aftermath changed America. 

The White House and GOP leaders said they would not negotiate with Democrats on immigration until the government is reopened.

For Randall Kroszner, 2008 was all about doing the exact opposite of what the Fed did in the 1930s.

A look at what the Fed was doing — and wasn't — before the crisis hit the headlines and your bank account.

There are LOTS of cryptocurrencies. Yes, bitcoin, but also: Ethereum, Ripple, Litecoin, IOTA, Dash, TRON and Bitcoin Cash. What’s a new investor to do? Read Reddit threads, of course. And starting this week, there are now official financial ratings of the coins, as well. Weiss Ratings is going to assign letter ratings to cryptocurrencies, though, because of their volatile nature, the grades could change daily. Marketplace Tech host Molly Wood talks with Martin Weiss, who’s behind the ratings. 

(Global Edition) From the BBC World Service … Liberia is suffering from rampant unemployment and endemic poverty, but residents are optimistic today about the inauguration of a soccer star-turned-president’s celebrity status, which they hope will bring about a restoration of the nation’s economy. Then, a new report says 82 percent of the world’s wealth went to the richest 1 percent. We’ll dive into income inequality as the World Economic Forum in Davos, Switzerland, kicks off this week. Afterward, Australia has more electronic poker machines than any other country, and it  racks up the biggest gambling losses. We’ll talk about why slot machines ensnare society’s most vulnerable citizens.