18 Burst results for "Britney Cronin"

"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

02:33 min | Last month

"britney cronin" Discussed on The Indicator from Planet Money

"It's now been eight months and counting. Yes it sounds like. It's working out so far. What he tells about the downsides. Yeah there is one thing in particular that sinead said. She's worried about so well. Lots of people are coming to stuff's websites. There are people in zeeland. Of course who still rely largely on facebook for news and just like here in the us. There is a lot of bad information on facebook in new zealand. Like things that are just not true and we wonder about the risk of withdrawing journalism from facebook and what that leaves behind for people to be exposed particularly around things. Like curved vaccine has basically saying if you're not finding news stories at outlets stuff. What's out there to counter all these posts on facebook claiming that vaccines are going to let bill gates control your dna or whatever right and that's sinead says ultimately while stuff does not have plans to resume post on facebook anytime soon. She's not ruling out permanently shannon. This is also the experience of just one publisher in a country. That's you know. Lovely important significant many ways but a small country so not trying to offend kiwi friends. Five million people right yeah. So how does this apply to other media companies around the world. Yeah i mean that was sort of my question. Just sinead to said. She thinks her experience shows that really publishers. Just don't need to be in this codependent relationship with facebook. There's other options. yeah. I mean. I know not. Everyone is in the same situation than us. But taking this step in deciding to just give it a go Taught us so much and made us think that all ask fears that without these platforms we would just collapse. That was baseless in other words. Her relationship advice dump facebook. Yeah i mean. Remember how people used to set their relationship status on facebook to. It's complicated absolutely. I think the takeaway from sinead is the relationship that publishers should be worried about. Is the one with their readers. Not with facebook shannon. Thanks so much for joining. The indicating stopping quick disclosure. Facebook is among npr's financial supporters. This episode of indicator was produced by britney cronin. In fact check by. Sam sei who's edited by jolie myers in the indicator is a production of npr..

new zealand britney cronin Facebook Sam sei zeeland eight months facebook jolie myers sinead one thing Five million people one publisher shannon npr
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

01:39 min | 5 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"And they have a deal with gm essentially agreement with general motors is building a bridge between where there's enough cars on the road to make money which is a little time in the future to two right now. So that helps us will build the of demand because general motors has come to the party and is helping make a contribution to the building that infrastructure so he also says look people right now mostly charge at home but that could change in a few years once more. People who don't have garages start buying electric cars. So maybe utilization goes up and this is really interesting camilla because like we normally think about how demand drives supplies like people want man for something. They're willing to spend money on it. So you know. Accompany supplies it Here's always saying that. Like no once the supplies out there. Then it's going to drive up demand so build chargers and people will buy the vehicles to use the chargers she also says maybe you can get a bunch of shipping transportation companies to use these fast chargers and that'll help cover their costs. So companies are optimistic. Then they see a path to profitability. Here yeah but. I think it would be fair to say that. It's a lot easier to get there. If people were a bit more rational. If people used fast chargers as much as they worry about fast chargers they're either be a lot more charging or a lot less worrying. Yeah and in either case. Just less of a conundrum for the auto industry community domino ski. Thanks thanks so much for bringing us his story. This was great. Thanks for having me. This episode of the indicator was produced by britney cronin with help from gilly moon. It was fact. Checked by sean. South donya and edited by paddy. Hirsch indicator is a production of npr..

general motors camilla chargers domino ski britney cronin gilly moon sean paddy Hirsch
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

01:50 min | 6 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"Americans and also all women looking at lessons learned moving forward. I do think that the food and drug administration should carefully consider insuring having a regulation that ensures that vaccine trials in the future. Really do reflect the demographics of the country. So that way if you belong to one of those groups and you're considering taking the vaccine you would know that it's been tested in your particular group and it works. There is yet another vaccine barrier cost when the polio vaccine came out back in the nineteen fifties. You needed three doses. The cost up to five dollars each which might not sound like a lot but when you factor in inflation that is about one hundred and fifty dollars in today's money and again we don't have a proven vaccine yet. We don't know how much it will cost or how it would be paid for. But what is clear that if and hopefully when we do get this elusive vaccine persuading the americans who now say they are reluctant to take it. And by the way that's about one third to half of americans who say they are reluctant could be really expensive. Phil says for example. The marketing budget for the truth campaign was more than a hundred million dollars a year. So cardiff you know what would help save the economy prevent potentially millions of americans from getting sick if you went on the indicator just like elvis and took the vaccine. What do you think. I would be happy to do that. am i as trusted by the broad public As elvis was. I don't know i don't know but i'll do. My part of the indicator was produced by britney cronin. In fact check. By sean sal donya the indicators editors patty hirsch and the indicators production of npr..

polio vaccine elvis britney cronin sean sal patty hirsch Phil npr
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

08:03 min | 8 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"This message comes from NPR sponsor Microsoft teams. Now, there are more ways to be a team with Microsoft teams. Bring everyone together in a virtual room collaborate live on the same page and see up to forty nine people onscreen learn more at Microsoft dot com slash teams. Support also comes from fundraise fund makes it easy for anyone to invest in high quality real estate by building your portfolio with their more than one billion dollars in assets get started at fundraise dot com slash indicator to have your first ninety days of advisory fees. Waived. Greg. We're GONNA podcast man thanks for having me of Greg. Your article reminded me that at the beginning of the covert response here in the US. There was actually a lot of confusion about these specific goals of the lockdown measures that ended up being implemented and it seems like that is a pretty important part of understanding whether those lockdown measures were the right ones or the wrong ones. That's exactly right. Broadly speaking, there are two approaches you can take to epidemic like this one is suppression you drive the number of new infections down to. Zero that is a very draconian approach and requires being locked down very thoroughly for a very long time. That's your approach that China in New Zealand took the alternate strategy is mitigation also known as flattened the curve, which means that you don't fully lockdown. You just trying hold infections low enough that they don't overwhelm your healthcare system. That's the policy Sweden pursuit eventually enough of your population is exposed that. Epidemic stops spreading called herd immunity in the United. States. We didn't really choose either of those things at the outset we talked about flattening curve, and then we locked down and it sounded like we were gopher suppression. But then after just six to eight weeks of lockdown, we started to get tired of that lifted the lockdown and then the epidemic took off again, and in some sense we ended up with the worst of both worlds we ended up to the economic harm of lockdown, but the uncontrolled pandemic of. Mitigation, her immunity strategy. Yeah. And I guess the natural follow-up question than is, what's a better alternative and so you make this point in the article that a lockdown is not this one thing that there are literally dozens of measures that can constitute a lockdown. So things like closing schools or closing stores or telling people to stay at home and what's Needed is a way to evaluate each individual measure number one by whether or not that measures good at reducing infections and reducing the spread of the virus and the number two how economically damaging is that measure and this indeed is the very model that a couple of Harvard academics that I interviewed have come up with One of them's in economist one of those. And they've basically said, let's try and come up with a set of measures that really do optimize the most. Effective reduction infections at the lowest economic cost and look some of these things. We are not really going to surprise you very much. We know for example that this particular pandemic is very dangerous for the elderly and not dangerous at all for children. What does that tell us? Well, it tells us that we should be putting a lot more effort into protecting nursing homes, which will save a lot of lies but not be very economically costly. It also suggests that it should be safe. In most circumstances to reopen schools for, for example, elementary schools that doesn't mean you open schools during hotspots when the disease is quite dangerous, but it does suggest that opening schools with your correct protective equipment in place and social distancing measures should not be terribly risky because we know that children are in fact, less likely to die from this disease they are from flu according to these measures and the best information we have so far is that they do not tend to spread to teachers. What else do we know? Well, there's a lot of evidence that a small number of so-called super spreader events accounts for an exceptionally large number of infections. The State of Louisiana for example has been tracking exactly what types of venues produce these sorts of super spreader events, Lo and behold roughly a third of outbreaks in Louisiana are associated with restaurants, bars, and casinos. Similarly in Japan the single largest source of outbreaks was bars, restaurants, and Karaoke parlours. This tells us that closing those types of venues. It will be economically costly for that specific industry, but it's not going to cripple the overall economy and it should be very effective containing the virus. Finally we seem to have pretty good evidence that a widespread use of facemask is really effective at slowing the transmission of the disease. It seems to be the secret ingredient to why so many East Asian countries like South Korea Hong. Kong Singapore and Japan have done. So well, there's a variety of studies that do suggest that the introduction of masks have helped slow the spread of the disease and one of the great things about matches. It doesn't stop you from going out and actually interacting in the economy a very low cost. It's one of those interventions that appears to have very low economic cost with a very large payoff in terms of health in grape one of the advantages that you write about of trying to evaluate individual measures rather than thinking in terms of a total lockdown versus no lockdown at all. Is it you end up with these sort of natural experiments like were different countries or different states can then learn over time which measures were well, and which don't as they actually try them out and in fact, you right that we're getting something like these experiments now in places like California and Arizona specifically that's exactly right card if so in what you saw in a lot of these south southern and western South Western. States was that after the initial lockdowns were lifted, they were lifted to sort of broadly and we had that second wave of infections. None of these states interestingly enough went back to a full lockdown. So in the case of California, they closed the bars and the restaurants, the required stores to operate like twenty-five percent capacity but they didn't, for example, cancel elective surgeries. They didn't tell people you couldn't go to the beach or go to. The park or anything like that and in the case of Arizona, they took an even mild reproach and in both those states you have now seen infections and hospitalizations plummet back to the levels they were before the second began. In fact I think in the case of Arizona they're actually lower. So what does that tell us? It tells us that we seem to have come across a formula that does actually get control of the. Virus, but does not require a total locked out of the economy. Now, this point when you have to say watch this space because these places are starting to reopen. So California now has a series of criteria that each county must meet before they can open up. So San Diego. County Orange County San Francisco, county these are three very large, highly populated jurisdictions. They've now already reached the stage where their restaurants reopened for in person dining. Most of their retail establishments can open at lower capacity. That's going to be very good for the economies of those localities, but we do have to keep an eye on to see what happens whether in fact cases take off again. You know perhaps a word of caution is necessary here even though I think there's a strong strong case for the target approach that we've been talking about. It's still not suppression. It's still not getting infections down zero and until you achieve suppression. Really, let your guard down because the infection the virus is always out there and you're always going to be at risk of an outbreak and you have to keep an eye on that. Greg. Thanks so much. Thanks for having Cardiff. Links to the research cited in today's episode will be at NPR DOT org slash money. This episode of the indicator was produced by Britney Cronin. In fact, check by Sean salona indicators edited by Patty Hirschson is a production of NPR..

Greg NPR Microsoft Arizona Epidemic California Japan Louisiana US Harvard Sweden Britney Cronin San Diego South Korea Hong Lo flu Cardiff Orange County San Francisco
The Birth Of The Greenback

The Indicator from Planet Money

09:56 min | 8 months ago

The Birth Of The Greenback

"Stacey next. Jacob Feldstein. Planet money author of money the true story of amid up during a new book. Say I. brought props for us to do the indicator. I say. That's been months. It's been. That guy's been honking hall eight months. I have props came over so I could give you these troughs. Okay. Go ahead and look at them. All right. Okay. So, this is like a really high quality xerox of an old piece of money. THREE DOLLAR BILL RE dollar bill that's really a real thing. There's like a a lady standing next to in like a ball gown standing next to a cow to I chose a cow to pander to you I do love a cow keep going. Okay. The Orange Bank It's orange because this from the orange. Bank and this is a one dollar bill. So Stacey, these are reproductions of real paper money that was printed by private banks in the United States in the eighteen forties and fifties. This is one of the most interesting periods I found in the history of money when I was working on my book, it's this moment when the United States government did not print money, there was in fact, no single national paper currency but if you wanted to. Open Up Stacey's Bank of New York and print your own paper money. You could. I don't know if I would trust that dollar from that. Was a real problem that was a real problem we'll get to that. I. Mean they were just so many different kinds of money at one point the Chicago Tribune counted eight, thousand, three, hundred, and seventy different kinds of paper money in America. This sounds very confusing for everyone involved this indicator from planet money. I'm Stacey Vanik Smith and Jacob. Goldstein can we make eight, thousand, three, hundred and seventy, the indicator? Yes. Today on the show. How can you even have that many kinds of money and also just what does it tell us about money works? Let's just go. Let's just go a block away to get away from the horn. Yeah. Support for NPR and the following message come from fund. fundraise fund makes it easy for anyone to invest in high quality real estate by building you a portfolio with their more than one billion dollars in assets get started at fundraise dot com slash indicator to have your first ninety days of advisory fees. Waived. This message comes from NPR sponsor. Microsoft teams. Now, there are more ways to be a team with Microsoft teams bring everyone together in a virtual room collaborate live on the same page and see up to forty nine people onscreen learn more at Microsoft Dot com slash teams. So can we should set the scene here Jacob the nineteenth century America lots of is apparently also this was the era when gold and silver were money and Jacob say in the book that the government minted gold and silver coins, but it did not make paper money at that time. The exactly right. So the only paper money in America was printed by all of these different. Private banks people called paper money in fact banknotes, right. So they thought of it as like a piece of paper from a bank and they thought of paper money in particular as like a receipt or a coach ticket as as a thing that you could substitute for gold and silver, and in fact, if you look at at the bills I gave you all have this kind of. Writing like just grab a different one for fun. So we can say what it looks like. Okay. This is the stoning ten bank, a two dollar bill. There's a way. Moby Dick or something Wail Bell we've cow Bill Wail Bill So okay. So now look at the cursive writing see the cursive they're just blowers is stoning to. Two dollars to the bear on demand right and if you look all these different bills are different colors, they have different pictures on them, but they all say that will pay how ever many dollars to the on demand and so the second interest. Yeah it's an Iou because the interesting thing is it's telling you the paper money is not the real money. Right? They're saying we will give you two dollars in gold and silver for this paper money right? So the real money in this world is the underlying gold or silver the paper is just like. The Standard. So this is a time in history when there's not federal bank, there's not a national bank. There's like thousands of of little local banks and I guess all these banks can issue their own money. That's right and it's kind of evolving in this period at the beginning of this ehre the eighteen thirties. If you wanted to open a bank, typically you had to go to your state legislature and get special approval. Basically, they had to pass a special law that would let you open your bank and this was problematic because I was super corrupt essentially. Bank and print money. Then you're gonNA bribe whoever you have to. Say all the knee. All due respect to get them to let you open your bank. Right. So around eighteen forty, a little earlier, this new idea became popular. The new idea was called free banking. And the idea of free banking was anybody who is willing to follow a few basic rules could. Take and start printing money and literally start printing money and you know not surprisingly a lot of people wanted to print money. This is how we get eight thousand different kinds of money. Yes. How do you know if the bill that someone's handing you is real money or if it's literally just a piece of paper from the First Bank of Stacey Vanik Smith which might be real money. I wouldn't. Maybe. Add bribed senator so I love this so there arose in response to this problem these special periodicals Magazines that were privately published called banknote reporters. And what they were was these lists in tiny font of every kind of money. So I actually have a reproduction here another prop from a page. This one was called. Thomson's Bank note. Reporter. K.. So the people who subscribe to this merchants people who need to accept money. So so let's just say I'm running a bar and I got my thompsons bank note reporter and I come in I need a drink who thirsty I'm thirsty. So okay. So the page of the bank note reporter I printed out is for Orange Bank. Okay. Okay. So have that bill right here it is and it's a one dollar bill. So I find Orange Bank here in my Bengal reporter and it says Okay Orange Bank listed different bills and says ones and under wants it describes what the bill is supposed to look like says to horses check. Hey, Cart Jack Blacksmith shop male portrait Jack Girl. Check. So it's at least plausibly real. The reporter also tells me something else that's important and that explains a lot about how many works at this time. Typically would tell me whether I should accept that paper money at full face vowed I can buy my dollar whiskey with this whether you can get your dollar whiskey because remember what we care about is whether I can turn in that paper money for gold or silver, and so if the bank is shaky or even if it's just really far away. You know the reporter might say, just knock five cents off the dollar give Stacey Ninety five cents worth of whiskey instead of a dollar that took a really long time to buy that we ski. It does seem like it would have been absurdly inconvenient right and for a long time when people look back at this period, the basic story of free banking was just that was a horrible idea like that many kinds of money right but. Much, later, like in the nineteen seventies. This generation of economic historians started going back and looking more closely. At the banks and how money works in this period and what they saw when they really went through the numbers was basically like it wasn't that bad Bankston go bus that often people didn't usually lose much money when they used. We're you overall they would lose like a few percent which is. Kind of like what you pay today. So when you take money out of the weird off Brand ATM at. The corner store. which I always do. Yeah, I. Mean. That's basically like the the bartenders giving you ninety cents for your dollar when you do that, right? So. Obviously, we do not have eight thousand different kinds of money now this ended and it ended after the civil war. Yeah was the civil war. So during the civil war, that old American argument of can we have national banks or not came up again and Congress passed a few important banking laws. One of them basically taxed all those thousands of kind of state banknotes out of existence, and then the other one created these new national banks that printed much more reliable, much more uniform paper money. It's interesting because I mean, this was obviously after the civil war was the time when the United States went from like a collection of. To One Country, and it seems like the same thing happened with currency maybe not a coincidence. Your I mean, there is this idea at least in the modern world money is part of what makes a country a country and I think you do see that happening at this moment in the united. States when we go from thousands of kinds of money toward one uniform kind of paper money I'm just sad we lost the cow bills. Because you know Jacob I have a fever and the cure. This story in like a whole bunch of other like believable stories like this are in your new book money. The true story of a made up thing. This episode of the indicator was produced by Nick. Fountain fact check by Britney Cronin, the indicators edited by Patty hearst and is a production

Stacey Vanik Smith Jacob Feldstein Reporter Orange Bank Bank Of New York United States Okay Orange Bank America NPR Federal Bank Bill Wail Bill Microsoft First Bank Thompsons Bank Chicago Tribune Congress
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:13 min | 8 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"Overrated underrated. We are very excited to have you here. Okay. So our first question relates to your Nobel Prize winning work foreign aid overrated underrated. Underrated Now explain I think what people do is they say look on average countries they'd get foreign aid seems to doing really badly. So how could we be good I? Think the real question is, is there a good way to US foreign aid and my view is yes, you can use it in many bad ways us, aides to many of its friends for reasons we. Have nothing to do with Welfare of the people and therefore you get off of the people that doesn't mean that you couldn't get it I think if you actually spent effort trying to figure out what's the best reduce? It is flexible money. It's often money that you know countries don't have. So it's money that can be used creatively when is used creatively you get. A. Huge. Bang for the buck. I would say it's both overrated underrated. It's did in the sense that people domestically exaggerate how much is there of it? And and the volleyed plays in developing countries. Finances minuscule. And as a result, it's underrated because people say, Oh, they so much foreign aid and it doesn't make a difference. Of course, it's minuscule. So it's not gonNA make a difference I agree with on top of that is underrated for its potential. overrated underrated being married to an economist underrated. And I did of course. What about overrated underrated dating an economist I mean if you're married to. Over over. You guys like split checks or like how did that work? Did you run into any economic quandaries early on? Pretty flexible not really money people so. We didn't never spent a minute thinking about it. overrated. Underrated taking a vacation. Underrated In America people haven't understood the if they took a vacation, there would be more productive. So just from a purely purely economic point of view people do need to take vacation. We should play this recording for our boss. This this woman went to Nobel Price. The to other countries where the two of you spend a lot of time our friends in India. So let's take those intern overrated underrated France and a heated. It's like amazing. What did you life is so great and people complain a lot but they forget that the quality of of what you can get your food and just the environment. In, tiny tiny villages in France is. Higher than most places in the? overrated. Underrated French bread. Or just height. I think most people think French is quite good. I. Pass seems to be founded on the principles. Quite good. How about India and Indian Brad overrated underrated in is underrated. It's actually not the kind of puffy bread which is not. Wonderful but the flat breads and Millions of them and on millions with thousands of different kinds and they're incredibly flat breads in India something else I can predict that it's going to become a head kind in. New York within. A couple of. So you've described economists as social scientists who should be more like plumbers. So overrated underrated plumbers we did So the way we think about the economist is where we think economy should think more about themselves is to not just think deep oats about the the fundamental reasons for phenomena, social phenomena but also about sinking solving practical problems that in the field and as soon as you do that, you can't have the security of you know your your fixed set of assumption that too many points you have to. You will encounter that you didn't expect things will not be the way you want very much like a primer when they tied to fit the. The New thing in new tap, it might or might not work and they will tinker and they will tighten things out and if it doesn't work the way, they want it they are going to. Do it again and fix it and this particular tinkering plumbing like approach we think he's underrated in economics and. Could because those details? Are So incredibly important in the success off the failure of about. overrated underrated microcredit for our listeners microcredit is establishing a way to give a very small loans to poor people in developing countries. So they can do whatever they want a business that kind of thing microcredit overrated. underrated. I think it has been overrated for a very long time Because, it was perceived to be the one solution to all the problems in the world and the one exit out the one silver bullet that would help people exiting out of poverty. and in fact, several experiments have shown that that's not the case I think it's becoming appropriately rated in the sense that. Being confronted with evidence a lot of microcredit. Organizations I've come to realize that cook. We understand we are not all things to all people but there are some benefits to financial services for the poor maybe they can be designed. In a more. Targeted way. So when people use Michael to save, it's not the most efficient where and maybe we can get savings products or off if they use it to transfer money to each other we can use. We can have financial services of that gain and for the entrepreneurs for whom micro-credit can actually really helped the business. Then we would need maybe disposable to design products that are more. Targeted to entrepreneurs that I'll bit more flexible for the. So I think we are in a phase where It's kind of a question mark of how well ready to disease, and there is a lot of creativity in walk in making it better such that it's not overrated soon. Enough. Okay. This is the big one. overrated underrated winning a Nobel Prize. Justifying. These People think it's a big dealer is a big deal. It's a big deal I. Think. Fries, but it seems like very. Creates. Thank you for playing oriented versus underrated with Cuba. Thank those funds. This episode of the indicator was produced by Jared Marcel Jamila huxtable nick found. It was fact checked by Britney Cronin, our editors, Patty hearst, and the indicator is a production of NPR I'm Tyler Cowen and I approve of this use of underrated versus overrated..

India Nobel Prize France US New York intern Patty hearst Jared Marcel Jamila America Tyler Cowen Fries Cuba Britney Cronin NPR Brad Michael nick
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:42 min | 9 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"NPR sponsor Microsoft. The world has changed and Microsoft teams is there to help us stay connected teams is the safe and secure way to chat, meet call and. To learn more visit. Microsoft. Dot Com slash teams. Sandy. Thank you for joining us. Thank you. So, Sandy, you were laid off back in March from your job as a housekeeper at the Sheridan at the same time, your husband's construction work has largely dried up. So what does this period been like for you? It was It's just a scary moment because my husband's check wasn't enough for all the bills that we had. I had a lot of bills from when I have my daughter. Still coming in from the hospital. So it was just. It was all just coming. In so fast that I couldn't keep within. did did the digit unemployment benefits? Get you back to what you had been earning before you lost your job? Yes we. Find with my husband checking my check. It wasn't like like Oh. My God. Yes. We're going to have so much money now it was. Enough for us to keep going with the bills that we already had pre covid. And what are like your you and your husband's biggest expenses we're renting a house and that's a thousand dollars a month. Mike Car I'm still paying off my car, which is almost four hundred dollars a month I had a gay Internet service for my son since he started going back to school or his remote learning CH- so it's not like. It's a it's like once that we want it's needs. Win Did you first find out that the six hundred dollars would be going away potentially. I I give most of my news from facebook I shouldn't say that but I get most of my news McVeigh's facebook all get most of our news from expect. So I, I pretty much everybody saying like, Oh, the benefits going to end on July and this mezzo. I was Kinda Scared I. was like Oh my God I hope July doesn't end so fast no. I was just hoping to stretch on forever, but it had come to an end at one point. Yeah. Have you gotten one of the unemployment checks that does not include the six hundred dollars yet? Yeah actually this week we got the the one with. No. Without the six hundred. What was that like? Texan everything it came out with akin to fourteen, two, hundred and fourteen dollars. Yeah. From like eight hundred more than eight hundred. Yeah. That's a lot less yeah and what does that mean for your family we have to choose between. Paying the rent on time or you know paying for groceries the baby she's growing out of CO so fast that I can't keep up with that. You know the bills to be paid on time and then still having to buy clothes for the baby by diapers by whites you know everything that she needs to be. Okay. I. Mean Because, Yeah you've just seen your income drop by like more than seventy percent year exactly, and so you mentioned like this might mean choosing between groceries and rents does that mean that like maybe maybe you won't pay rent this this month. Probably not I'm not sure my husband's like I said, my husband's work has been slowing down a lot. So and usually this is a time where like I would back him up. So now that I don't have that money to be bringing in were, where am I going to get that money from? Yeah I mean one thing that that lawmakers in Washington have said is there talking this through is that they're worried that adding the six hundred dollars a week onto unemployment is stopping people from going back to work Do you think that's true? I know that is so not true I actually want to go back to work I. I've been working since I was seventeen and I've I've never asked for unemployment I've always been all like. While I was working I would save enough to be okay for like two or three months while I look for another job, but it's All that stuff that everything were lazy. We don't want to go back to work because of the six it's not you most of us want to return back to our jaws but my job since it's a hospitality in its travel and everything nobody wants to travel anymore. So how am I supposed to return back to work where it's not open? I mean I actually applied to a couple of other places but they're not calling everybody saying, go get a job like where am I going to go get a job from? No one's hiring. Is, you're looking ahead to the next month or two without that additional money like what is the thing that worries you the most just? Just losing my mind and losing my house losing everything that I worked so hard for I mean. It's Just, thing that I just don't want to. You know especially since you know I worked every day for you know five years at the the current job that I met you know in. It's so hard just. Not to. Not to see myself working anymore you know in. As when I get back to normal is pretty much what I'm trying to say, yeah, he were working seven days a week. Yep. On fixing we would work seven days a week. Wow and sometimes, I would even work more than eight hours a day. We just need a little bit of help for now and you know we'll work our butts off you know. As soon as we have to work because that's all you ever known as we work work work, you know just to get ahead of just to you know be okay with our families be have food on the table have a roof over ahead we're not. We're not lazy. People were hard working people that just need a little bit of help for now. Is Is homelessness like a real worry. That's. That's a lot. Honestly it is. It is a knife. I stayed up nights. Just. Hoping that some miracle come that I don't have to resort to that or you know having to ask someone to let me stay with them for like a little while I get my. I, I've never been that prison to ask for a handout like I said, I've always been the person that working working working in having everything that I need that my kids need. And? I feel so vulnerable like I don't. I hate asking for help but he asked me for hand but you know it's it's something I needed the current moment my kids needed you know and yeah, it's so hard just to even say I. Need It. You know it's It's It's not like me to for handouts picking much China. Say. Sandy thank you for sharing your story. Thank you for having me. This episode of the indicator was produced by Lane Burnett Courtney Dorning, and daring woods. It was fact checked by Britney Cronin. Especial. Thanks to the team at all things considered. The indicator is edited by Patty and production of NPR. Black voters play a crucial role for any Democrat who seeks to win the white. House but some big devise amongst that block and some serious influence could determine who is elected president this November. Listen now, the coach podcast from NPR..

NPR Microsoft Sandy facebook Mike Car Britney Cronin president Washington Patty McVeigh Lane Burnett China Courtney Dorning
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

03:48 min | 9 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"Tussling over the six hundred dollar week extension to unemployment benefits. In a nutshell, Democrats say the extra funds are critical for the unemployed and indeed for the economy. Republicans say the money could remove the incentive to return to work for some people. Are Listeners have a lot of questions about all of this. But one that keeps on coming up is why six hundred dollars that such a raw number, right? Producer Dr Raphael has the answer. When Congress was debating the cares act back in March people were trying to figure out how much additional unemployment the government should give to the millions of people who had lost their jobs. Michelle, Evermore senior researcher at the National Employment Law Project says that one idea was to just give people exactly as much money as they had been making before the pandemic. A lot of people including me. We're calling for one hundred percent income replacement. However, trying to do that is technically infeasible infeasible because the computer systems that many state unemployment offices run on simply can't handle calculating in percentage terms. Michelle has traveled the country visiting unemployment offices and she spoken with state officials about. About their computer systems and what she's found is not exactly reassuring state unemployment insurance. It is incredibly antiquated. It's based on largely nineteen seventies, COBOL mainframes. There's only sixteen states that have completely upgraded from those mainframes and even those new modernized systems aren't necessarily all that modern. That's right many of these crucial government agencies which are the first line of defense against the economic devastation wrought by the pandemic are using computer systems that may have been built more than forty years ago. Part of the reason for this says Michelle is that unemployment office administrative budgets are an easy thing to cut when the economy is good, and there aren't a lot of claims to process. She says, Adleman budget unemployment offices are lower now in absolute terms than they were in two thousand one. And that made it extra difficult for unemployment offices to tackle the flood of new claims that poured in during the early weeks of the pandemic, the spike in claims was historic So the highest amount of new claims history with six hundred and ninety, five, thousand in nineteen, eighty two. but we saw three point, three, million new claims, the first week, and then six point six, million claims. Six point, six, million claims over five million. They're still processing over two million claims. So there's still processing more than twice as many claims as the highest point in history given the scale of the crisis and the lack of resources at state unemployment offices lawmakers came up with an alternative solution. Than, a percentage which was impossible to calculate, they would go with an average. So they took the average weekly wage before the pandemic was about nine hundred dollars, and then they took the average unemployment benefit, which was about three hundred dollars and they subtracted three hundred from nine hundred and they got six hundred. So they said give everyone six, hundred dollars a week, and that gets everybody lost job up to the average weekly wage. But of course, some people were making more than the average wage before the pandemic, some people were making a lot less. So the system is imperfect, but until we can bring our unemployment infrastructure into the twenty first century, it may be the best can do. Producer Darius Raphael recently departed the indicator to join the Night Budget Fellowship at Columbia University we wish him the very best. If you'd like to us a question, you can reach us on twitter or instagram or via email at indicator at NPR dot org, we'd love to hear from you. This episode of the indicator was produced by Britney Cronin an edited by me Patty. Hearst. The indicator production of NPR..

Michelle Darius Raphael Producer NPR Congress twitter Britney Cronin Hearst senior researcher Night Budget Fellowship National Employment Law Projec instagram Patty Columbia University
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

01:41 min | 11 months ago

"britney cronin" Discussed on The Indicator from Planet Money

"For new ideas. New Business models to finally be tried for example. If the government is going to restrict the price of a vaccine, it could offer a cash prize to the companies that do end up making the vaccine, so it is still worth to them to try. The government's offer basically is hey. If you come up with a good vaccine, you cannot charge people too much, but we'll give you a dump truck full of money for having succeeded. Take that that don't. Don't truck full of money and you say okay. Whoever can achieve a particular milestone? This will be yours, but if you do this dump truck full of money, you could also as the government say I'll allow you to make a profit on it I'm not going to allow you to make crazy off and on, so there can be more of a tempering of prices, aligning the incentives of the public in the Pharma, companies massively important and obviously matters for the fight against covid nineteen, which continues to cause widespread damage to public health into the economy. But it also matters for the future, because his urgent and terribly important is the fight against covert is right now. It probably won't be the last against a threatening pandemic. This episode of the indicator was produced by Camille. Peterson, our fact checker is Britney Cronin. Our Editors Patty Kirsch. Indicator is production of NPR. Actors Tracy Ellis Ross is used to people talking about her age a lot and she's okay with whatever people say. I'm forty seven years old and I'm the most comfortable in my skin I've ever been. What would we go back to being twenty two? No, thank you the Black Star on confronting ages world. This and subscribe to. It's been a minute from NPR..

NPR Tracy Ellis Ross Britney Cronin Patty Kirsch Camille Peterson
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

06:13 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"All over the world will be watching to see what happens with demand so some demand. It's just lost forever like you would normally have gone to your favorite restaurant five times over two months when that restaurant reopens you might rush right back for dinner and drinks but you're not gonNA order five dinners and five drinks. That money from those missed meals and cocktails will be lost forever. That restaurant DEB's business has seen this. A lot of her clients would have had a couple of grooming appointments by now. She's thinking in particular of the first dog in her lineup. For the morning of the reopening a wheaten terrier named Jules. I can't even imagine what he looks like because he's such a fluffy guy and we're like Oh man. We're just envisioning what these dogs looked like. He probably looks like he's got dreadlocks. Or something so devil. Only get the money from that one haircut that one monster haircut for jewels so some demand. It's just lost nothing to be done. But what about going forward will demand come back to the level it was economist. Jared Bernstein says no way and there are a few reasons for this. The Big One unemployment and most forecasts had the unemployment rate peaking out something between fifteen and twenty percent. I'd probably be on the upper end of that range Sometime later this year. Twenty percent unemployment. That is double what the unemployment rate was at the very worst moments of the great recession during the Great Depression unemployment was at twenty five percent so twenty percent unemployment. If that happens would be a stunning horrible number. It would also have a huge effect on demand after all people who've lost their jobs are not going to be buying as much stuff as they would if they had their jobs. Deb Compton says she is really worried about this. Unemployment has become a huge problem in Wisconsin over the last couple of months. You know we're we're kind of big manufacturing and stuff and my neighbor across the street from me She works for chicken manufacturer and they They laid out like so many employees and she's one of them and she's got this family and her severance package was frozen chicken and deb is directly feeling the effects of these layoffs. Like a lot of my clients. They literally called yesterday and they said what will the price be because they just don't have it. They're like you know I'm laid off. What's my building to be tomorrow and I was like. Oh Jeez really yeah like somebody that normally would tip like a twenty dollar tip can't so it's it's scary grooming. A dog is not cheap. Pet supplies charges anywhere between sixty and one hundred and fifty dollars to groom dog depending on the size and fluffing the dog so deb worries demand will dry up. People will come less often or maybe not at all and even if they do come. Their TIPS WILL PROBABLY BE SMALLER. So deb is back on her own spending. I don't want to tap into my savings you know. It's you're you're just crunching down. Because you don't know where's your next. Check coming and wins this opening up and you know if are people going to be able to pay their bills. You know that kind of thing. When people like DAB start cutting back on spending it can create an economic situation known as the paradox of thrift. This idea comes from famous communist John Maynard. Keynes and it works like this when people like deb are worried about the future is the wise and rational. Move to save more money and spend less. The paradox is what is good for one person is not good for the economy as a whole when people spend less that is really bad for businesses demand for goods and services goes down and that can make a recession worse. And in this case. There's this whole other factor Cova nineteen so even if people have plenty of money and they want to spend it on something like going to a concert or a restaurant or a museum. They might not spend that money because they're scared of getting sick deb. Princeton's normally goes to a bunch of dog shows and grooming shows in the spring and summer. She shows dogs and also gets dogs ready to show. It is part of her business part of what she does but not this year. There's nothing it's just cancelled. It's just everything is cancelled. And you're just like I mean. Wow that is lost income for deb. It's also lost income for the hotels restaurants and other businesses that would've fed POWs and sold stuff to all the people going to those events so unemployment people cutting back on spending events canceled because of Corona virus. Jared Bernstein says all of that combined could push many businesses and companies over the edge just tons of businesses close. Then I think the man on the other side of this is going to be a much heavier lift because we just won't have an economy in place that's capable of bouncing back when it came to the paradox of thrift economist. John Maynard. Keynes said the solution was for the government to step in and spend the money. That consumers aren't spending or get money to people so they will keep spending all that would keep the economy growing and we've seen the government do both of those things in the last couple of months economist. You're at Bernstein. Says he's been really impressed by the speed and size of the government spending an action. Still he says even with all of that the damage from Cova. Nineteen could be devastating. And we won't really know how devastating until much later this year for her part deb is not thinking that far ahead she is just trying to get her grooming skills back on track get the grooming tables moved farther apart and other social distancing protocol put in place and of course making sure to answer the phones to respond to all of that pent up demand. Good luck opening everything tomorrow. Yes thank you thank you. I hope everything goes smoothly. And and I hope everybody's happy to see us as we are to see them. This episode of the indicator was produced by Neal Peterson. Fact checked by Britney Cronin. The indicator is edited by Paddy Hirsch and is a production of NPR..

deb Jared Bernstein DEB Deb Compton John Maynard Keynes Wisconsin Paddy Hirsch Cova Britney Cronin Neal Peterson Princeton NPR
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

05:33 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"By the time Jennifer. Hensel got off the bus that day in March. Most of her income for the year had gone up in smoke and she started to think about her situation. You know the tour business did not seem like it was going to come back for a long time. A lot of her debt was on credit cards and that that comes with a really high interest rate plus her medical debt had been sold onto a debt collection agency. So the pressure to pay it was intense. She started thinking maybe bankruptcy was the answer and I started doing research and they just got overwhelming. I'll be honest because it's not. It felt like I was reading something in another language and it was a language that I was not well-versed in I tried to think of myself as maybe average maybe a little bit above average intelligence and I'm reading these things in. It's just like on one hand it's like Oh yeah easy but on the other hand it's like Oh it takes your credit and I just kept going back and forth. It was like the cartoon where you have Angel and the devil on your shoulders and they're both timing in a lot of people are wrestling with those particular angels and devils right now. Millions of Americans have skipped credit card payments and companies have taken on a record level of debt. Many are now considering bankruptcy. As a way out any crack in boss is the executive director of the American Bankruptcy Institute an organization that represents bankruptcy professionals and she says that during the last economic recession more than one and a half million people a year filed for bankruptcy and this recession could see even more than that the insolvency industry as she calls. It is exploding with demand. Bankruptcy professionals are overwhelmed with the number of calls and questions they're getting from businesses and individuals says the bankruptcy institute has been flooded with questions and has been trying to respond with lots of extra information and online courses. We get usually on our webinars anywhere from honored to two hundred people are last Webinar. Had over a thousand attendees so they are looking for their craving information. You just can't soak it up fast enough. Bankruptcy is confusing and emotional. It's also a double edged sword a lot of times on one hand your credit score takes a big hit in a bankruptcy will typically stay on your credit report for seven to ten years all of which makes it really hard to get a mortgage loan car loan or even a credit card also bankruptcy usually involves selling anything you have that is of real value like your house or your car to pay down your debts but on the other hand bankruptcy does stop the stress of collection agencies calling and taking your wages or repossessing. Your property generally in bankruptcy. Your creditors wants to sit down with you and work out a plan to pay off your debts over several years Jennifer. Hensel has been reading about all of this for weeks and she says she cannot find a decision. That feels totally comfortable all these questions. Keep dogging her. How would it impact my credit score? What if I wanted to buy a house? What if I wanted to buy a new car? Like what would it have in the long term? Then I started getting a difference at a fears of will. What if I do decide to do this? And then our government does some program that I have had to do it. That and then the scare of not doing it not filing. There's that fear of you know like not having any income coming in and having to pay bills keep my legs on buy food using credit cards and that interest rate. Just pull you know. And having that Guerrero. Not to mention the stigma and the shame that can come with bankruptcy filing for bankruptcy public so employers and friends and family can find out about it and Jennifer says that also feels really scary to her. It seems like so much of our worth is linked to our credit score. You hear corporations and businesses. Oh yeah they filed for bankruptcy like. That's like commonplace. This is how you do business but individuals doing it. There's like a stigma like airs like the Red. Be on your chest. Oh you filed you know. Oh you must be a failure. You must have bought too much avocado toast and too expensive. Pour over Latinos. You know it's got like a value and a moralistic thing linked to it. Jennifer says she's still not sure what she's going to end up doing but it feels like the clock is ticking and she needs to decide really soon and her worries are even starting to invade dreams. Hardawy still drinking coffee at like four o'clock is I had a broader virus nightmare last night in the middle of the night I woke up and I was just like you know. 'cause I imagined zombies had broken into my apartment meanwhile Jennifer is trying to pivot her business. She started writing a guidebook and she's looking into virtual tours where people could walk around her historic city learn about US history with her while they were at home. Sheltering in this is where many of our founding fathers met to discuss and finally approved the declaration of independence but most important of all this is where the constitution was created. This is the birthplace of all things of our nation is that as indicator was produced by Dr Raphael in fact check by Britney Cronin indicators editors Patty Hirsch and the indicator is a production of NPR..

Jennifer bankruptcy institute American Bankruptcy Institute Hensel US executive director Angel Guerrero Dr Raphael NPR Britney Cronin Patty Hirsch
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

03:38 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"We're not showing anything on our website right now until a believe January of twenty twenty one. So that's the earliest defined storage for us. I mean we'd be happy to turn over rocks in Stephen says a lot of people have been calling him asking him to do just that turnover rocks. It's crazy I mean everybody in their barber saying oh I can source oil. They already are stirring oil on the water and buying the water. I mean like people actually coming up with the IDEAS. I have this barged. Maybe somebody will take in just put oil in it and let it float People started railcars. Typically it costs roughly twenty five cents a month to store a barrel of oil now. Some storage facilities are getting more than four dollars. A barrel and when the price of oil is low as it has been you can get into a situation where costs more to store the oil. The oil is actually worth around the Texas Oklahoma area. Oil Storage is especially tight and especially expensive. That's part of why West Texas intermediate oil price dropped so fast. There's nowhere to put all that oil and moving oil to another area is really expensive too. So you are an oil producer. You have this oil that you pay to pump out of the ground and nobody wants it. But you can't just dump it you have to sell it or store it and if you don't WanNa pay to store it well maybe pay someone else to take it off your hands. Make storing the oil their problem. David Dacko bomb says that is what's happening here. It's like if you went up to a buffet and it was all you can eat and you a you know. A bunch of general sells chicken. And then you went back up and you know someone said like we need you to take another plate and you're like I just can't take anymore. They're like I'll give you one hundred dollars to eat another plate whereas like you're the one that's supposed to be paying for the buffet. You know I I think maybe there's one person that says okay. I'll do the hundred dollar challenge. I'll take another plate. David says this will change. When the economy starts to open back up people will start driving again and businesses will start ordering things again in airplanes will start filling up again it just like with the chicken you might be stuffed right now at the moment but you will get hungry again. Eventually you'll be willing to pay for that chicken again. But even when the economy does start to normalize David doesn't think the appetite for oil is going to get back to where it was. The global economy says probably not going to grow for a while and that means demand for oil will likely be low also alternative energy use is on the rise and David the oil industry will probably never be the tighten. It was we have approximately sixty public companies. They're out they're producing oil and gas and this will be you know perhaps one of the events that leads to there only being ten of them over time. this is this is part of that. Death Spiral So this is this is just. The Industry. Got Old really really fast. In the meantime oil companies are trying to figure out if they can afford to keep pumping oil or if they need to shut off their wells and David things that's part of why we will continue to see negative oil prices and he will have more sixteen hour days with you know a few breaks to play with his kids because like a lot of us us. Working from home of the indicator was produced by Dr Raphael and fact check by Britney Cronin indicators editor is Paddy Hirsch an indicator is a production of NPR..

David Stephen David Dacko Paddy Hirsch Oklahoma West Texas NPR Dr Raphael editor Britney Cronin
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

01:41 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"The government would likely have to consider a full lockdown for now he says Sweden is sticking to its guns and he points out. There is one huge advantage to their approach. That it is sustainable. These some issues we could keep on doing for months maybe years for whereas under says things like keeping kids out of school forcing businesses to close. That's not really sustainable for all that long. Sweden's approach on the other hand. He says is far less disruptive to people's lives and to businesses soap bar manager. Ostra Toernell says he's glad for his part that the economy has stayed open. He says the club staff is kind of like a family. And even though soap bar had to lay off ten people it was still able to keep most of its core staff. Oscar says that with the smaller crowds. The club is not making much money but it is scraping by along with a lot of other businesses in Sweden. We might be be on the right path other note basically Isabel Limbo today. We'll see you know as the weeks. Go by in the meantime. Oscar says he will keep going to work making sure. The bathrooms are clean all the time making sure the tables are far enough apart and you know playing when people start to get Hansie and when it doesn't work. He says he breaks out the big guns. If large groups gets together I just turned him using down then then. No one thinks it's funny to dance to a song when it's when the music is really low so people go back to their seats. Basically this episode of the indicator was produced by Dr Raphael on check by Britney Cronin the indicators editor is Paddy Hirsch and it is a production of NPR..

Sweden Ostra Toernell Oscar Hansie Paddy Hirsch Dr Raphael Britney Cronin NPR editor
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

02:48 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"Support for NPR. And the following message come from Washington wise investor and original podcast from Charles Schwab that explores how decisions made in Washington could impact your finances and portfolio. Listen THAT SCHWAB DOT com slash Washington. Wise support also comes from Microsoft teams where you can contribute to meetings from anywhere chat with co workers and find all your files in one place ready to unleash. The power of your team open teams more at Microsoft Dot com slash teams. So Okay Cardiff in. This sort of epic week of epic indicators. What is your indicator of the week? Actually I wanted to give a shout. Out to the underappreciated economic contributions of grandparents for my indicators of the. Week I love that Yeah. I mean we know for example that the Corona Virus Disease Threatens Older folks more than younger people. The fatality rate is higher And I just wanted to remind people a lot of them are grandparents and in fact there are seven point two million grandparents in the country who live with their grandkids and more than a third of them actually are responsible for raising their grandkids. And even the ones that don't do a lot for their grandkids so the overwhelming majority of grandparent's this is according to a survey by the WIP. Spend some money on their grandkids every year and forty percent of spend than five hundred dollars. And that's not even including the child care that they provide which is informal it's not counted in GDP but it's hugely important thing and that's a part of the economy to so yes shout out to the grandparents you know yeah not to mention that a lot of people who are in the Highest Risk Group for cove in nineteen are also running companies running our country and just contributing to the economy in in all kinds of ways and Cardiff. I think your grandparents had a hand in reason you too right. Yeah I mean that's probably. Why chose this from the day I was born and left the hospital? It was to move in to my grandparents house to the very day that my grandfather drove me. Seventeen hours to drop me off at college. I lived with them. Yeah they had a big role in raising me so I think it's important to recognize in this kind of difficult moment. That grandparents have stepped up for a lot of us and now I think it's time that we all step up for them. Keep them save. Do the right thing. Stay home if you're looking for more news about corona virus. Npr has new daily podcast. For just that. It's called Corona virus daily with new episodes every weekday in the late afternoon. This episode was produced by Lena Sons. In fact check by Britney Cronin our editors Patty Hirsch and the indicator is a production of NPR..

NPR Washington Cardiff SCHWAB DOT Microsoft Charles Schwab Lena Sons Britney Cronin Patty Hirsch
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

03:10 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"Support for this podcast and the following message come from Microsoft teams where you can contribute to meetings from anywhere chat with coworkers and find all your files in one place ready to unleash. The power of your team open teams more at Microsoft Dot com slash teams support also comes from capital one brought to you by the capital one venture card when you earn unlimited double miles on every purchase. Your next trip is closer than you think. What's in your Wallet Dr? Maria Syndrome is an epidemiologist at emory university. And she says another big problem. In the nation's public health infrastructure is pricing. It is often extremely unclear. How much a procedure or a test is going to cost for Jebel in Miami? A traveler who is just back from China was feeling badly and he wanted to make sure that he did not have the corona virus so he got tested for the flu to see if that's what he had and he did. He had the flu but his insurance company tried to bill them more than three thousand dollars for the ER visit and the test pricing for tests like this when there is an epidemic needs to get fixed so that people are not afraid to get tested. The way that we set up paying for healthcare in this country is really not very conducive to a large scale. Pandemic like the one that we're experiencing right now. So that's another really important thing I believe that New York Has Directed Insurance NOT TO BILL FOR CORONA virus. Lita testing so that will hopefully remove that Disincentive for people in that state. And I hope that that is something that everyone takes very seriously so to sum up paid sick leave a better epidemic testing process and healthcare pricing. That makes more sense. These would start fixing some of the problems in the country's public health infrastructure and also potentially protect the economy from epidemic but Dr Syndrome ads. Not all of the responsibility for public health falls. On our policymakers. Some of it falls on us. If you're concerned about your risk. If you're concerned about the risk of your household members wash your hands for twenty seconds you can sing the happy birthday song twice. You can sing The refrain from Africa by toto. Which is my favorite. There are a lot of other things that take twenty seconds make a game out of it take it seriously and know that that is even though it is maybe really boring. It is the best possible thing that you can be doing the rain Africa Benson. Never been you ever advice for but wash your damn hand. It's good for your health. It's good for the economy to it for all of us not to so that we can have healthier lives but also more prosperous livelihoods or just because you want an excuse to Africa by toto. This episode was produced by Lena. Sons Gary in fact check by Britney Cronin our editors Paddy Hirsch and the indicator is a production of NPR.

Africa Maria Syndrome Microsoft flu Jebel Gary Dr Syndrome emory university Pandemic Paddy Hirsch China NPR ER Miami Britney Cronin New York
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

07:35 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"Senior fellow of the Center for Global Development. Charles you brought us this breakdown of what wealth in the global economy looks like right now. So let's go through the numbers real quick. Okay when you think of wealth in the global economy. How do you break it down? What are the silos here? So when I'm thinking about wealth and thinking about what is it makes income and I'm breaking it down into three categories and actually I should say the World Bank broke them down into three categories. Thank you very much. Well Bank into produced capital. Which is things like roads and buildings and factories natural capital things like landon oil and gold land in the stuff under it? And then you've got the rest of the world. Bank is come to call human capital but can be thought of what what's behind that is education but also technology and ideas and inventions so knowledge. Basically learning yeah so the knowledge of how to make an internal combustion engine or automaker solar panel all the knowledge of property rights or education. Okay so we've got these three categories. I'm going to use different words than produced natural capital. Most normal people. Don't use it. I'm just going to break going to call it. Shorthand I'm going to call it Land stuff an intangible wealth. Okay so thank you can't touch so How much of the global economy is Physical stuff physical stuff is about a quarter twenty seven percent. Okay so not much and then what about land? It's about nine percent nine percent and then the rest of it ideas learning etc is is nearly two-thirds it's sixty four percent of total total global wealth. Okay so almost. Two thirds of the wealth in the world is something. You can't see it's ideas it's knowledge in that is different from how the world used to work right. I mean this is the idea behind that data point about California having a bigger economy. Now the whole world economy back in eighteen seventy yeah. That's that's right so the difference between land and and and factories and equipment and ideas is if I'm using the land to farm to grow cabbages. You can't use it to grow cabbages I've got that if I'm using the factory to produce widgets you can't use a factory to produce widgets with ideas. That's not the case. So if I have the idea of the internal combustion engine and you have your idea we can both have your idea of internal combustion engine at the same time indeed with some ideas and technologies the more of us who have that idea the better it is so take. The example of a double entry bookkeeping is an accounting concept. That's very useful. That spread out all over the place. Right sorry if only I'm using accounting concept doesn't really make sense to anybody the whole world using if we all have the same accounting standards. They're much more valuable to to each one of US individually for keeping track of where our money is. And how are we spending so so? Ideas are non zero sum. If you're using the land I can't use the land if you're using the idea I can use the idea at the same time and actually that can make the idea more valuable to the both of us. Yeah and something. That's interesting about. This is that this also concerns. How countries deal with each other so back in the eighteen hundred say when land was a huge part of the global economy agriculture. You know might have even been for part of the eighteen. Hundreds the majority of the global economy. it was more of a zero sum world because if one country had land that had great crops and produced a lot of food that meant that that country was richer than other countries. And so there were these kinds of imperial conquests squabbles over land itself now the thinking is that because most of the wealth in the world is ideas knowledge learning and that's not zero sum. Cooperation is sort of what's called for. This is kind of an interesting theme that you bring up. Can you tell us a little more about it? Yeah sure so in in the nineteenth century People for wars over over Landon and what was under or on it. All the time they were there was a Guano bird poop in the nineteenth century because it was a valuable form of fertilizer. Japan started the Second World War. One of the reasons that it went to war was to try and guarantee Source of oil. Say Sort of through history You know a lot of conflict has been over these zero-some resources as they become less important to what makes you a wealthy successful prosperous country into the reasons to fight over over. The smaller and smaller part of overall wellbeing goes down. I'm not saying it's GONNA lead to instant global peace But I think it's been one factor behind the decline of war and I think one factor behind a growing sort of realizations that actually the world works better when we work together than it does When we all try going around separate ways yeah it strikes me. That maybe policymakers have not caught up evolution. I mean think about what you're saying here. We still have countries trying to protect their technological advances rather than sharing with each other and the current tensions between the US and China are maybe the best example of that at the moment but not the only example and so this cooperation that you say is more suitable to the modern economy is not a cooperation that I always necessarily see Going on now. That's absolutely true. So it is sometimes and especially sort of in in in Washington seen as a as a race who gets more patents and Who's got more of the technological edge but it really shouldn't be about that we all benefit from technologies invented elsewhere including in the United States. I mean imagine I forth without fireworks. Fireworks were invented in China. And so we've got to get over this sense that it is kind of competition. It really is more about cooperation and indeed are tightening of intellectual property rights like patents as part of global trade deals. Recently I think has been a mistake for us but also with the cost of the world it favors a few firms that have existing patents over the interests of everybody else in the United States and in the rest of the world and is increasingly foolish as the United States a becomes a smaller part of the global economy so at the moment about seventy percent of all the research and development done worldwide is done outside the United States that number's going to grow. And if we keep on treating this as a a competition. We're GONNA miss out on on that seventy percent because we're going to encourage other people to behave the same way so I accept that we haven't moved all the way to viewing the world is as cooperative and indeed the last few years at seen us moving backwards if you will in that sense but I think it's Food Charles Kenny. Thanks so much. For being on the PODCAST. Thanks so much for having this episode of the indicator was produced by Dr Is Rafi on. It was fact checked by. Britney Cronin our editors Patty hearst and the indicator is a production of NPR..

US World Bank Center for Global Development Charles Kenny landon Senior fellow Dr Is Rafi California NPR Japan China Patty hearst Britney Cronin Washington
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

06:45 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"Support for NPR and the following message come from the Financial Times with with over six hundred correspondents. In more than fifty countries. The Financial Times offers a unique independent and truly global guide to the world's new agenda visit the Financial Financial Times at F. T. dot com support. Also comes from you. River cruises want to travel to popular spots in Europe without all the hassle. Immerse yourself herself in local culture take part in active excursions. Now you can with you. River cruises learn more at you by YUNA WORLD DOT COM. So emily you just got back from a reporting trip to an area near the quarantine zone and traveling is on a lot of people's minds right now. So what was that like. What was it like going through the airport? It it was. It wasn't as tense as you would imagine it to be but going through the airport meant going through many many security checks so when you're driving up to the airport you've you've got to go through. What used to toll booth is now a temperature checking station and then you walk into the airport itself? Yours objected to an explosives test but also another temperature temperature check in which they point this gun like thermometer at your forehead and it takes an immediate reading. Then when you get your ticket and you're about to get on the plane again. They do a third temperature. knbr track and then when you actually laugh at your destination and you get off. They have these temperature sensor setup that are getting everyone. And if your temperature's too high someone will come over and flagging they've got plenty of security milling around do just that and so when you were reporting about how close to the epicenter of things we actually able to get. So I went to the city called jo-john I could see across the river into the teen zone. That's why I picked the city. It's separated by this really narrow waterway. Technically it's a tributary of the young river. But UH on one side is the city I was in on the other side was done which is under really strict quarantine. What were things like? They're sort of what was. What were you seeing? I didn't see much. It was a ghost. Town Jo Jong is a city of four point. Seven million people. I walked around drove around on for the better part of a day. We saw maybe sixty to seventy people walking on the streets. There were basically cars. Every store was closed except for pharmacies. In grocery stores local governments have forced grocery stores to remain open and for them to not raise food prices. So at least people are not going to starve. But everyone's just kind of huddled in their houses including myself when I'm not on reporting trips and they're just hoping to wait out the worst of this outbreak. And do you have any sense of of what impact this might have sort of on the economy of China in the world economy. It'll have a huge economic effect. It every shopping mall has closed closed stores which normally would see some pretty high holiday. Sales aren't going to see that. This year most restaurants are closed. Basically there are no factories open right now except for people who are making medicines making has met suits and making face masks. The government has extended the loonier holiday. They've shut down. Public events is associated with the Lunar New Year that might have generated revenues cinemas aren't open schools aren't opening people are not going back to work and generating revenue and being productive. So yeah there's going to be a huge economic costs down the line. I mean it just seems like you know things in in China on a slightly larger scale scale. I mean we talk about like a city of eleven million people are four million people being a smaller city. I mean it just seems crazy to me that they would be able to mobilize oval is so much and sort of deal with this on such a scale. It cuts both ways right. They're able to mobilize they can call in all the big pharmaceutical companies and grocery chains. And say listen you guys have to get your act together. You cannot close you cannot raise prices. You have to work overtime to make sure that Oliver Oliver Supply needs are met and also impose a huge quarantine zone for fifty million plus people. Everyone has to use their national. ID to buy a plane ticket. Ed or a train ticket so and national. Id by the way has a number that reflects your ideas registered whether you're Julia province or one so it At a certain point became very easy to track They sent the soldiers in two car train stations and airports. That people couldn't leave so once. Those were on lockdown down then it became quite easy to control where people went but at the same time public disclosure and information transparency has been real real issue. I mean doctors have been describing an on the record interviews. How started seeing a spike in cases of this corona virus? Starting January sixth. We're talking right now. January very twenty eighth. The government didn't start putting quarantine measures in place migration controls in place To contain this virus until about last Monday so there there's a really long period of time in which there was no information about whether there were new cases and whether this was a true public health concern when it actually was so yes. They're taking extreme stream. Unprecedented measures curtail the outbreak. Now but a lot of people in China think it should have been. It should have been done much earlier. And how are things in Beijing are. Are you feeling it. They're not really Beijing has had its first death from the corona virus. That was a little worrying but Beijing is A. It's a city of migrants which means that over the Lunar New Year. Everyone goes home the week before the holiday the city vacates. It feels completely empty even if there were an epidemic Emmett going on so you don't feel the anxiety as palpably as you would in a smaller place where people are going home and worried about getting the virus there but one day I talked to you said he was so nervous about not so much getting sick himself. A passing it onto loved ones that he was now sleeping separately from his wife and a separate bedroom because he was afraid that he'd come back after a day of running errands. I have the virus on him and give it to his wife and child. Is there anything on. You really want folks you know. Listen to the podcast to know about what's is going on there. Anything I feel like. I didn't ask about her missed or anything like that. I think one of the mist elements of this whole outbreak is of course the the horrible public house site site if things but the psychological toll its head on people like it's really emotionally It's really emotionally heavy to think that anyone around you might be incubating the virus could give it to you without showing symptoms themselves so there is an atmosphere of panic in the country. That was Emily Fang. NPR's Beijing correspondent this episode so D- of the indicator was produced by Rafi on and me. Lena Sun Scary. It was fact. Checked by Britney Cronin our editor is Paddy Hirsch and the indicator is a production at NPR.

Beijing China NPR Financial Times Europe Oliver Oliver Supply Emily Fang Jo Jong Paddy Hirsch loonier Britney Cronin Julia Ed Emmett
"britney cronin" Discussed on The Indicator from Planet Money

The Indicator from Planet Money

04:47 min | 1 year ago

"britney cronin" Discussed on The Indicator from Planet Money

"Support for this podcast. And the following message come from salesforce salesforce a customer relationship management solution committed to helping you deliver personalized experiences that customers want salesforce bringing companies and customers together visit salesforce dot com slash learn more support for NPR in the following. Message come from personal capital offering offering personalized financial planning with registered advisors. Who put your best interests? I download the APP or start investing at personal capital Dot Com Personal capital invest with logic plan with heart stacey ready are you trembling. You look a little nervous. Did you have enough time to try to cobble Abil together. Some reasons why the stock market might be undervalued. One great reason in here. It is excited to hear this. My argument for why the stock market is undervalued undervalued has to do with interest rates right right now. Interest rates throughout the economy are really low so say for example. Let's say that you are an investor with some money. Honey you wanna put into something you WanNa make money. You're trying to figure out where to invest it. You might say. Hey maybe all. Bonds like government bonds or the bonds of companies companies. Will if the interest rate you're going to get paid on those bonds is low like just not very impressive. Then you might go looking for different place to invest your money like you might buy stocks which are likely to give you a higher return on your investment than bonds are and when investors do that the stock market will go up. And there's another reason that low. Oh interest rates boost the stock market low interest rates mean that companies themselves will pay less interest on the money that they borrow so they have more money left over and they can use. Is that extra money to either invest in making their product or hiring better people or just giving the money back to shareholders an all these cases that extra money makes their their stocks look more attractive to investors consequently interest rates low stock market up. An interest rates are low right now. This is true but Cardiff interest rates change low interest rates for companies might not last forever. In fact I can basically guarantee you that. For example if companies borrowed too much money honey than at some point the investors who loaned them said money. We'll get nervous that they're not going to get paid back. And then the companies will have to pay higher interest rates to lure more investors and in fact a lot of economists and analysts are worried the companies have already borrowed too much money. Corporate borrowing is at record highs and also card if you have just argued why the stock market might might not be overvalued which is different from saying that the stock market is undervalued. You really actually think. The stock market right now is undervalued fair point. Here's the argue okay. After lowering interest rates three times last year to stimulate the economy the Federal Reserve has signaled that it does not op plan to withdraw that stimulus anytime soon. That interest rates in other words are gonNA stay low not just right now but low into the future as we just discussed. That's good for the stock market plus after so many people worried last year at the US economy or the global economy could fall into a recession. I think you and I were in that category. We were worried about that. Those fears have kind of faded and so the combination of the Fed promising not to slow down the economy on and keep interest rates low and the global economy outperforming expectations from last year. I think those two trends have left. US companies in pretty good shape shape and the stock market will eventually reflect that. Okay okay compelling I think he did a really admirable job arguing very difficult side of this argument midst but very nice job. We will leave it right here so write us. Let us know who you think. Won The argument Email indicator at NPR dot. Org Or. You can participate beat in our twitter poll which we will post later today and by the way that twitter poll will include an extra option. which is that? The stock market is correctly valued. Yes definitely argue that but one important point to make before we close out here Stacey Nobody should do anything based on what they hear on a podcast especially that is for not giving investing wise Nice. That's based on what we say. Exactly remember that there is no way to guarantee what the stock market is GONNA do. Just as there is no easy way to know if it is overvalued or undervalued. Also that I'm right in Stacy's raw okay. Well we'll just see we'll just see what the listener say Tsk. This episode of the indicator was produced by Dr as Rafi on our editor is Paddy Hirsch. Our intern and fact checker Britney Cronin and the indicator is a production Shen of N._p._R...

salesforce Stacey Nobody NPR US Federal Reserve twitter Paddy Hirsch Britney Cronin Cardiff Stacy Rafi intern editor