35 Burst results for "Cardiff Garcia"
The Economy Aboard The International Space Station
"The international space station cost hundreds of billions of dollars to build for astronauts living on the space station. Though money is essentially useless, there's nowhere to spend it, but that does not mean there isn't an economy for the handful of astronauts living on board from our daily economics podcast, the indicator from Planet money, Stacey Vanek, Smith and Cardiff, Garcia explained. The economy aboard the international space Station is all about trade. This is, according to astronaut Doug Wheelock. Actually, everybody at NASA calls me wheels. I'm one of the old grizzled veterans. So the early career astronauts call me Papa Wheels. Doug Papa Wheels served as the commander of the International space Station and lived there orbiting the Earth for six months. That interesting thing is with food, of course. Doug says that aboard the space station most of the food is actually pretty bland. But every three months a big event would happen. Doug and his crew would get a shipment from Earth just before they closed the hatch on the launch pad they would throw like a bag of Fresh fruit like oranges, lemons, apples, vegetables as well. Everybody would only get one or two pieces of producer just wasn't that much of it. And so here is where the trade comes in. Doug knew that the Russians loved onions. But Doug loved fruit. Cuter. Your chicken was my commander. As said, Hey, theater. What trade An onion for do you have? Ah, Like an extra orange. He goes all you don't want your onion. Of course, the space station economy was not just about food, though. Services were also a big part of it Dug, for instance, has an engineering background And he says for him, one of his least favorite parts of life aboard the space station were all the scientific experiments. They had to do whatever their background this was just Part of what they did every day, the way out of it Economics. Doug discovered this a couple of weeks into his mission. When one of the scientists aboard the space station told him that there was a big problem, she said, Hey, the party's broken not what you want to hear aboard a space station, that's for sure. No, But Doug's background was an engineering, so he understands systems and he says, fixing things comes really naturally to him. And the scientists This woman named Shannon knew this about Doug Shannon looked at me, she said. If you fix the party Do all of your science for the rest of the day. I'm thinking like that is a deal and a half. I'll take that deal, so I got my bike tool belt called Houston and said, You know, Houston, we have a problem. The party is broken, but the real commodity on the space stations is Doug. Was Earth itself. For example, Doug says, you just want to see and talk to other humans. Even if you don't know them. You want to drop in on other astronauts video chats and see their families and talk to their friends. You don't care. Yeah, because in space, humans are a precious commodity. And I asked if there was ever bartering around this like, hey, you can join my video chat with my family for an apple. Indexes. Actually, everybody needs human interactions so much they don't really trade it because it becomes sacred when you get back to earth, Doug says. Your idea of what's valuable is changed forever. It's completely changed my whole perspective. Especially especially rain. I am just like fascinated by rain now I made I just The smell of it the sound of it and just to feel against your skin I took for granted before you know Stacey Vanek, Smith. Cardiff Garcia NPR news
INTERPOL Warns People About Counterfeit Coronavirus Vaccines
"I took a year when the distribution of vaccines is so important. The international police organization has a serious warning also known as interpol. They're cautioning people about the dangers of counterfeit vaccines stacey vanik smith and cardiff garcia from our daily economics. Podcast the indicator from planet. Money wanted to find out more about this and so they took a trip into the dark web. The cova crisis has created a whole universe of opportunity for criminals fear and scarcity and high demand are very powerful market forces. china anderson has been watching these forces. Play out for months. He's a senior security researcher at domain tools. Were a cyber threat intelligence data company so we scan the entire internet as many times began every single day and give insights to customers based upon what we see and part of the whole internet is the so called dark web. That's the unregulated. Part of the web. Were a lot of illegal activity happens. Like what is the dark web like. There's many things when people talk about the dark way that most of the time what people are referring to is anonymous services illegal forums or illegal marketplace's illegal marketplaces where you can buy drugs or weapons or passports or cova vaccines so now starting to see some coronavirus vaccines you know looking at. Maybe two hundred different ads here. So can you read us some of the ads that you've found. Let me pull one up. I'm looking at here so You know the as ten covid. Nineteen vaccines The prices re thousand two hundred and seventy six euros. That's about four thousand. Us dollars so about four hundred dollars per vaccine. Yeah and for the record. Chad does not think that these vaccines are legit for one thing. The pfizer vaccine requires a very intense cold storage chain. The vaccines have to be kept at negative seventy degrees fahrenheit and also the kobe vaccine ads are mixed in with ads for all kinds of other things and chances that tends to be a red flag. Since we're in the sees you scroll up in there's cocaine You know scroll down. You've got your airline and You know molly matthew name it ashwell as you know. This site has firearms chances. The global cova crisis has been a massive opportunity for cybercriminals he says the online marketplaces are still a tiny part of it right now and most of the criminal activity has involved ransomware chad's because lives are at stake and there's so much chaos and now criminal organizations know that if they hack into the system of hospital they can demand and probably get a lot of money back in october. One hospital in new jersey paid cybercriminals more than six hundred and fifty thousand dollars after the criminals locked up their computer systems and threatened to publish all of their patient records. Chad expects that these kinds of attacks will become more frequent in coming months because after all the payoff for those kinds of attacks are much bigger than a couple thousand dollars for the covid vaccines. Although chad also expects the vaccine market place will continue to grow on the dark web. Stacey smith cardiff garcia. Npr news
Thanksgiving Dinners Are The Cheapest They've Been In Decades
"Every year before thanksgiving the american farm bureau sends volunteer shoppers into grocery stores. They note the prices of the ingredients. That go into thanksgiving dinner. Cardiff garcia and patty hirsch from npr. Podcast indicator from planet. Money discovered the cost of thanksgiving is going down. The american farm bureau is a group that represents farmers throughout the country and its annual survey. It found that the average cost of thanksgiving dinner for ten people. This year is forty six dollars and ninety cents on the farm bureau's chief economist. John newton says that figure is low really low down four percent of from what we saw last year and actually is the lowest level that we've seen since two thousand ten and that's what i'd adjusting for inflation. We asked john if he could tell us high. The cost of thanksgiving dinners changed when he does adjust for inflation and specifically. What we wanted to know was if it was possible. That thanksgiving dinner was actually the cheapest it had ever been since the survey was started back in nineteen eighty six way. Let me let me power a spreadsheet. Just a mayor sure for go for it. Yeah i check it out yes it is. It is the lowest that it's been thirty five years. Wait a minute what did you just tell me. The in inflation adjusted dollars. Thanksgiving dinner is going to be the lowest. It's been thirty five years. Are you stunned. You know i am actually. I don't know why didn't look at that particular statistic before you asked me so. John says that you basically have to understand two stories to also understand why thanksgiving dinner is so cheap this year. Because here's the first story what happened this year. The ingredient with the biggest decline in its price is the turkey turkey. Prices came in dollar twenty one per pound that was down seven percent from what we saw last year. Which means you can put a sixteen pound bird on the table. Offer less than twenty dollars this year and this could be partly because the pandemic has forced families not to gather together in the same big groups as they normally would so. There's just less demand for those big turkeys families usually by and it's also because a lot of grocery stores have discounted the price of turkey. Frankly just to get people through the door. According to the department of agriculture more than eighty percent of retailers were running promotions across the country. When we started this survey. So you'll see turkey. Prices that range anywhere from twenty nine cents a pound to two ninety nine a pound depending on what type of grocer your and then. There's the second the longer story to tell. And this is actually an easy one to explain. Because of new technologies and innovations in how to produce food over the last few decades farmers have simply become better at it more efficient which means that they can sell the food for cheaper. You got to recognize that we benefit from a higher quality very affordable food supply. You know we spend a small percentage of our disposable income on food. Food in the united states is very affordable now john and the farm bureau of course represent farmers so he's boosting his piece. They're a little bit but the general story that the agricultural sector in the us has become more and more efficient over time is definitely true.
Hope Vs. Despair
"Everyone Stacey Incarnate Cardiff here. This is indicator from planet money and it has been a while since stacey naive put on our holsters stared across from each other for a good old fashioned gunslinger and shootout. Right we know Cardiff. That these things are very hard on you so try not to make them frequently you know as it or not. I am talking like I'm in a Sergio Leone flick. So because we should always be talking like we're in a Sergio Leone movie. We need the music fistful of dollars, the DOODOO. Of. The US economy is in this very uncertain place right now, there's the election coming up Congress and the White House have not agreed on a new bill to provide aid and stimulus, and the economic indicators are pointing all kinds of different directions. Yes. So based on those indicators is the case for hope stronger or weaker than the case for despair. To end the show station high debate, we take sides and to decide which side we're flipping a coin flip out at the O. K. Corral, Dang right? Heads I. Make the case for hope and Stacey you are despairing and if it's tails, you get to be hopeful. So I'm hoping for hope. It's tails, which means you get to be hopeful I. Spring the despair. Oh, I'm so excited I. I'm excited to be the voice of hope Cardiff. I feel like I feel like there's a part of you. That's excited to be the voice of despair. AM I. Wrong. Little bit a little bit. So yeah US economy after the break the good the bad and the I guess in our case the Smug League own nice. Prepare to rush Garcia prepared to do Rashed it's happening. Support for this podcast and the following message come from. Google, from updating their hours to adding takeout and delivery information. Small businesses around the country are using free google tools to adapt learn how at Google dot com slash grow. Okay folks. I will be arguing the case for pessimism for despair about the US economy stacey is arguing the case for hope. Stacey. You get to draw I. Okay. Cardiff here it is the case for hope the US economy is coming back. Economists are forecasting that the economy rebounded very strongly in the third quarter of this year after a very terrible second quarter the official numbers for the third quarter have not been released yet. They come out next week, but it is possible that the economy was up to eight percent bigger than it was in the second quarter that is just enormous definitely for sure it would be A. Really strong number but let's remember that the third quarter included the month of July when the economy was still running on the stimulus provided by the cares act that was the big government spending bill that provided an extra six hundred dollars a week in unemployment benefits to people who are out of work but those extra benefits expired at the end of July. So the stimulus by now is probably wearing off and also we still have almost seven million more unemployed people in the country. Then back in February before the pandemic started and I'm really worried about them now that they're not getting that extra help. Yes, you are totally Right that the high unemployment rate has been absolutely crushing, but the reason for hope is that Cardiff this very great that you referred to has actually been falling. So remember the worst economic damage from the pandemic was in the early months of March and April since then the unemployment rate has fallen from about fifteen percent where it peaked down to about eight percent as the economy has recovered, that is a huge recovery in a pretty short amount of time. That's true for sure and a hopeful sign but we have to recall that not all unemployment is the same most of the people who've already gotten their jobs back only. Lost those jobs fairly recently, but the number of long-term unemployed people is actually still going up each month. These are people who lost their jobs more than half a year ago and they have not been rehired and the longer they go without a job. The more likely it is that they're gonNA, lose their contacts and lose their skill sets and really struggled to find work again. Later you make some fair points Cardiff and I would respond that if the economy keeps growing though eventually those jobs will come back and there is a really good reason for hope that the economy will, in fact keep growing and that is consumer confidence. In September consumer confidence shot up by the most it has in seventeen years, which means that people in the US are planning to keep spending money because they are optimistic about the economy. For example, the sheriff people who are planning to buy a major appliance like a refrigerator, a stove or something like that is the highest it's been in seven months, and all that spending is going to keep the economy growing. There we go. Cardiff Garcia mic drop I. Think we should just call it right now I have one because consumers can be wrong I. Mean just because you're planning to buy the latest oxo coffeemaker with that sleek. Thermal Carafe does that mean you actually will if suddenly the economy goes bad but I would also point to a big split in precisely what people are spending money on. So specifically, yes people are spending more and more money on goods for the home like furniture and electron ix. But consumers are still not spending much money on services on things like eating at restaurants on traveling, and that's a problem because for example, restaurants and hotels are a huge source of employment for low income workers. So I'm just worried about people who rely on those jobs coming back especially since remember again, those extra benefits for the unemployed already expired. Almost three months ago card. If I think you should go ahead and splurge and buy yourself fancy coffee Raffin. Here's why. So you keep mentioning that the benefits for unemployed workers have expired and that is true but it is also true that not all of the money from those benefits with spent right away. A lot of that money was saved plus people who kept their jobs have also saved more money since the pandemic started because all the business lockdowns meant there were fewer opportunities to spend their money and you know people were maybe hunkering down a little bit too and what this means that a lot of households out. There still have money saved up money that they can start spending in the economy on things like fancy coffee carafe indeed though we also do know that a lot of the unemployed workers have already spent down a lot of their savings according to the J. P. Morgan, Chase Institute the unemployed spent about two thirds of their added savings in August that was the first month after the benefits expired, which means by now their finances could be getting really tightened. So they may have to cut back on some of their spending card. If you've now perfectly set up my final argument in the case for hope hated when I do that. That is policy. It is not too late for the president and Congress to make another deal before the election in order to stimulate the economy, those negotiations are still happening and also the Federal Reserve has been using monetary policy to help boost the economy. For example, low interest rates have given a big boost to the housing market, and historically the housing market has been a good sign of where the rest of the economy is headed and housing market is doing quite well. Yeah I definitely concede. The point about the Fed and the housing market. But the Federal Reserve itself has also said that what would be really useful for the economy is another bill like the cares act from the president and Congress, and all I'm saying to you is if the case for hope relies on politicians striking a deal agreeing on something that might be the most despairing
Egg Prices Skyrocket During The Pandemic
"It egg gree GIs or just good egg economics. The price of eggs skyrocketed during the pandemic, and now some states are suing AEG companies for price gouging Stacy Vanik, Smith and Cardiff Garcia from our daily economics podcast, the indicator from Planet money, tell us exactly what's going on with egg prices. We eat a lot of eggs in this country. The average American eats almost an egg a day and during the pandemic, we really got excited about eggs. Grocery stores were ordering six times more eggs than normal and a lot of store shelves were still empty. Yes, so demand for eggs went crazy and the supply could not increase right away because there are only so many egg laying hens in the US and you know that in prison, a man will lead to a rise in prices. That is David Ortega. He is a food economist at Michigan State University, and David says it's all about supply and demand. A spike in demand, plus a fixed supply pushes up the price. And the price went way up nearly 200% in March, and now a bunch of states have responded by suing AEG companies for price gouging. Thes states included Texas, West Virginia in Minnesota, and they also included New York, where the attorney general accused egg company Hillandale Farms of taking in $4 million in revenues from overcharging people for eggs and with egg prices. Here is where things get tricky. I mean, Did eight companies commit a crime by charging more for eggs. Were they just being good free market citizens? Also challenging really happens when you purposefully set the price of a commodity, you know, significantly above the traditional price level that incorporates costs and other forces, David says. Part of the issue here is that costs went up for eight companies to labor transports. Supplies were all hard to get and often expensive in the early days of the pandemic, But did those costs go up? By three or 400%, like their prices did that is the question being hashed out in courts now, and it's kind of complicated and part of the issue. Here, of course, is the egg itself, right? I mean, if I scream prices or caviar prices or wine prices or something like that went up by 200%. It probably wouldn't be a legal issue a price gouging accusation. But the idea here is that eggs are a staple in a stable that really vulnerable people count on, especially in a crisis, and this idea that companies were profiting off of vulnerable people in time of crisis makes it seem kind of wrong, David says. It's especially tricky here because there was a time when pretty much all food prices were going up. In fact, between March and April, food prices saw their biggest jump in 46 years. But you know it's really difficult to draw the line as to what is a appropriate price response due to the shock versus what isthe sort of This type of illicit behavior that's trying to take advantage of the situation, David says. We will have to see what the courts decide about egg prices and whether it was price gouging or just, you know, faire economics or maybe unfair but legal economics. Stacy Vanek, Smith. Cardiff Garcia NPR news
"cardiff garcia" Discussed on The Indicator from Planet Money
"Kathy Seeker is fifty five. . She lives in an apartment that she rents in Camden South Carolina with her husband before the coronavirus pandemic, , Cathy was working multiple jobs. . She ran the cafe at a bookstore and she also worked as a server at a restaurant, , but the pandemic would shut down both of those workplaces and in March Kathy started a new job at an assisted living facility working with dementia patients she likes to work, , but it only pays twelve dollars an hour and overtime pay is not available to her so when I took the new job for my career. . It then sent our rent back. . Months just months, , I don't make enough money to support myself. . My husband had a stroke at forty four years ago so he's not able to work. . By August Kathy had fallen thousands of dollars behind on her rent and twelve dollars an hour. . She just was not making enough money to both pay her full rent and cover her other bills like eletricity and car insurance and her husband's medications and my landlord was wonderful to so patient with us really was wonderful but. . He has to make money you know and I had reconciled in my head like how I was going to get rid of our stuff how we're gonNA live in the car. . And that was just going to be okay. . Kennedy says there was some dark moments then when the stress from the possibility of being addicted was just overwhelming to be in that desperate situation. . To be in that desperate situation and really feel like you've done everything you possibly can you know I'm a Frugal Person I home schooled my children for years I know how to. . Pinch a good penny but I there was no panic. . This is indicated for planet money. . I'm Cardiff Garcia and I'm Stacey Smith Today on the show evictions millions possibly tens of millions of renters throughout the US could soon face a similar situation to the one that Kathy was facing the loss of jobs and income. . So many of these renters has left the country with a possible evictions crisis and that crisis could have catastrophic consequences both for the renter's themselves and also for the whole economy. . This message comes from 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 collaborate to learn more visit Microsoft dot com slash teams. . Support for this podcast and the following message come from Google Google has a variety of free tools and resources to help small businesses adapt from trainings to on-demand classes through grow with Google explore Google's free tools for small businesses at Google Dot, , com slash small business. . The rent for the apartment the Kathy Kirchner shares with her husband in Camden South Carolina is six, hundred, , , ninety, , five dollars a month, , and she cannot afford that on her wages from the assisted living facility where she now works it's really difficult. . My paycheck today was five, , hundred, , ninety, , five dollars and and that's for two weeks even before the covert pandemic roughly one out of every four renting households in the US. . was already paying more than half of their monthly income in rent. . So. . Were already paying their rent paycheck to paycheck. . But when the pandemic started the federal government along with state and local governments did respond they responded with policies to help avoid an immediate surge fictions for a lot of these renters congress and the president expanded unemployment benefits in the cares act passed in late March, , which helped people who lost their jobs, keep , paying their bills, , things like rent plus a lot of state and local governments with these moratoriums in place that would stop landlords from a visiting tenants. . The federal government added its own moratorium on fictions for a lot of housing complexes that it subsidizes but the expanded unemployment benefits expired at the end of July in the moratoriums on. . In at least twenty, , four of the states that had them had also expired by the end of July. . Including the moratorium in Kathy's own State of South Carolina. . The Federal Moratorium has also expired and all of these reasons why so many housing experts are now warning that innovations crisis could start soon and the people who are most vulnerable to innovations. . Crisis are low income renters according to the Urban Institute. . Low income renters are more likely to have held jobs that have been lost in the Cova pandemic especially jobs in food. . Services and the retail sector. . In fact, , two of the jobs that Kathy Secrets your work before the pandemic in a restaurant and in a bookstore were in those two sectors. . The new job she took at the assisted living facility did not pay her nearly enough to offset the income she lost, , but the economy is still in rough shape. . So finding the kind of works used to do is just still really hard this hard when you're willing to work three four jobs like I'm not afraid to work, , but you can't find work. . A lot of Americans can't find work right now and many are struggling to pay their rent according to the Census Bureau roughly one out of five renters could not pay their rent on time in July and August could be worse nearly one out of three renters said the either had no confidence only slight confidence that they could pay their August rent for months. . Kathy says that she herself could only pay partial rent her landlord kept growing tab for her running. . into thousands of dollars and I would ask him every couple of months to show us what where we work because I was trying to make payments I would I would keep making payments, , but it would be like three hundred dollars for the month. . Well, , that's less than half of what I, , what I them, , even though I have a job that's a you know a decent job, , but it was it was a challenge. . You know it's very stressful to live under that. . Environment, , if innovations crisis does become a reality communities of color would also be disproportionately hurt partly because a much higher share of black and Latino. . Households are renters instead of homeowners there about twice as likely as white households to rent, , and before the pandemic, , they were already much more likely to face eviction than white households. . If there is any good news here, , it's just evictions. . Crisis is not actually started yet. . The warning signs are flashing red but so far evictions. Are . actually quite low in a lot of major cities that of course does not mean that everything is fine. . Remember that the expanded unemployment benefits and the state moratoriums on fictions only just expired a few weeks ago and it could take a bit of time before the struggles that people are having in paying their rent translate into actual evictions and it also means of course that there is still time for federal state and local policymakers to act again and possibly avert. . Meanwhile. . In at least some parts of the country hundreds of rental systems, programs , have been directing their money to help prevent evictions and a lot of them have received money from the federal government for this very purpose and one of those organizations ended up helping Kathy. . In fact, , it was actually her landlord who put her in touch with the local program from the United Way that Helps Fight Homelessness this program called New Day Kathy applied and got a grant from new day. . She was approved to receive about four thousand dollars and that money cleared all the background Kathy owed her landlord a felt like I. . Finally had a chance to get my head. . Slightly above water so that I could breathe and it would give me that time that I needed. . To get my life together again, , and by the first of September, , we'll be able to put the rest of my rent down like I'll be able to breathe. . Of course, , a new start does not mean everything will continue to be fine in the future Kathy's hopeful that as the economy recovers, , she'll be able to find other jobs to supplement her income but that partly also depends on whether it becomes safe to work those jobs while there is still a pandemic, , there is no certainty about this or about whether the economy will keep recovering. . So in the meantime, , Kathy has a message for policymakers. . Anything can turn on a dime and there are people who are really hard working. . <hes> who really don't want take charity but don't have a choice. . And if it is something that can help people even. . Anybody. . I would absolutely begged them to consider to continue these programs. . We need them people that want to make their rent they want. . To, pay , their bills. . They don't. . WanNa take charity they and they're working as hard as they can. . You know, , and then when you add in the stress of. . VID. . And going out. . Even, , if you don't have to work environment like, , I do just to go out, , it's it's so mentally exhausting. . The the mental anguish of not being able to pay your bills is overwhelming. . Overwhelming And I don't. . I don't. . Know How funding works but I do know that if there had not been this funding. . I'd, , be in my car.
The Looming Eviction Crisis
"Kathy Seeker is fifty five. She lives in an apartment that she rents in Camden South Carolina with her husband before the coronavirus pandemic, Cathy was working multiple jobs. She ran the cafe at a bookstore and she also worked as a server at a restaurant, but the pandemic would shut down both of those workplaces and in March Kathy started a new job at an assisted living facility working with dementia patients she likes to work, but it only pays twelve dollars an hour and overtime pay is not available to her so when I took the new job for my career. It then sent our rent back. Months just months, I don't make enough money to support myself. My husband had a stroke at forty four years ago so he's not able to work. By August Kathy had fallen thousands of dollars behind on her rent and twelve dollars an hour. She just was not making enough money to both pay her full rent and cover her other bills like eletricity and car insurance and her husband's medications and my landlord was wonderful to so patient with us really was wonderful but. He has to make money you know and I had reconciled in my head like how I was going to get rid of our stuff how we're gonNA live in the car. And that was just going to be okay. Kennedy says there was some dark moments then when the stress from the possibility of being addicted was just overwhelming to be in that desperate situation. To be in that desperate situation and really feel like you've done everything you possibly can you know I'm a Frugal Person I home schooled my children for years I know how to. Pinch a good penny but I there was no panic. This is indicated for planet money. I'm Cardiff Garcia and I'm Stacey Smith Today on the show evictions millions possibly tens of millions of renters throughout the US could soon face a similar situation to the one that Kathy was facing the loss of jobs and income. So many of these renters has left the country with a possible evictions crisis and that crisis could have catastrophic consequences both for the renter's themselves and also for the whole economy. This message comes from 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 collaborate to learn more visit Microsoft dot com slash teams. Support for this podcast and the following message come from Google Google has a variety of free tools and resources to help small businesses adapt from trainings to on-demand classes through grow with Google explore Google's free tools for small businesses at Google Dot, com slash small business. The rent for the apartment the Kathy Kirchner shares with her husband in Camden South Carolina is six, hundred, ninety, five dollars a month, and she cannot afford that on her wages from the assisted living facility where she now works it's really difficult. My paycheck today was five, hundred, ninety, five dollars and and that's for two weeks even before the covert pandemic roughly one out of every four renting households in the US. was already paying more than half of their monthly income in rent. So. Were already paying their rent paycheck to paycheck. But when the pandemic started the federal government along with state and local governments did respond they responded with policies to help avoid an immediate surge fictions for a lot of these renters congress and the president expanded unemployment benefits in the cares act passed in late March, which helped people who lost their jobs, keep paying their bills, things like rent plus a lot of state and local governments with these moratoriums in place that would stop landlords from a visiting tenants. The federal government added its own moratorium on fictions for a lot of housing complexes that it subsidizes but the expanded unemployment benefits expired at the end of July in the moratoriums on. In at least twenty, four of the states that had them had also expired by the end of July. Including the moratorium in Kathy's own State of South Carolina. The Federal Moratorium has also expired and all of these reasons why so many housing experts are now warning that innovations crisis could start soon and the people who are most vulnerable to innovations. Crisis are low income renters according to the Urban Institute. Low income renters are more likely to have held jobs that have been lost in the Cova pandemic especially jobs in food. Services and the retail sector. In fact, two of the jobs that Kathy Secrets your work before the pandemic in a restaurant and in a bookstore were in those two sectors. The new job she took at the assisted living facility did not pay her nearly enough to offset the income she lost, but the economy is still in rough shape. So finding the kind of works used to do is just still really hard this hard when you're willing to work three four jobs like I'm not afraid to work, but you can't find work. A lot of Americans can't find work right now and many are struggling to pay their rent according to the Census Bureau roughly one out of five renters could not pay their rent on time in July and August could be worse nearly one out of three renters said the either had no confidence only slight confidence that they could pay their August rent for months. Kathy says that she herself could only pay partial rent her landlord kept growing tab for her running. into thousands of dollars and I would ask him every couple of months to show us what where we work because I was trying to make payments I would I would keep making payments, but it would be like three hundred dollars for the month. Well, that's less than half of what I, what I them, even though I have a job that's a you know a decent job, but it was it was a challenge. You know it's very stressful to live under that. Environment, if innovations crisis does become a reality communities of color would also be disproportionately hurt partly because a much higher share of black and Latino. Households are renters instead of homeowners there about twice as likely as white households to rent, and before the pandemic, they were already much more likely to face eviction than white households. If there is any good news here, it's just evictions. Crisis is not actually started yet. The warning signs are flashing red but so far evictions. Are actually quite low in a lot of major cities that of course does not mean that everything is fine. Remember that the expanded unemployment benefits and the state moratoriums on fictions only just expired a few weeks ago and it could take a bit of time before the struggles that people are having in paying their rent translate into actual evictions and it also means of course that there is still time for federal state and local policymakers to act again and possibly avert. Meanwhile. In at least some parts of the country hundreds of rental systems, programs have been directing their money to help prevent evictions and a lot of them have received money from the federal government for this very purpose and one of those organizations ended up helping Kathy. In fact, it was actually her landlord who put her in touch with the local program from the United Way that Helps Fight Homelessness this program called New Day Kathy applied and got a grant from new day. She was approved to receive about four thousand dollars and that money cleared all the background Kathy owed her landlord a felt like I. Finally had a chance to get my head. Slightly above water so that I could breathe and it would give me that time that I needed. To get my life together again, and by the first of September, we'll be able to put the rest of my rent down like I'll be able to breathe. Of course, a new start does not mean everything will continue to be fine in the future Kathy's hopeful that as the economy recovers, she'll be able to find other jobs to supplement her income but that partly also depends on whether it becomes safe to work those jobs while there is still a pandemic, there is no certainty about this or about whether the economy will keep recovering. So in the meantime, Kathy has a message for policymakers. Anything can turn on a dime and there are people who are really hard working. who really don't want take charity but don't have a choice. And if it is something that can help people even. Anybody. I would absolutely begged them to consider to continue these programs. We need them people that want to make their rent they want. To, pay their bills. They don't. WanNa take charity they and they're working as hard as they can. You know, and then when you add in the stress of. VID. And going out. Even, if you don't have to work environment like, I do just to go out, it's it's so mentally exhausting. The the mental anguish of not being able to pay your bills is overwhelming. Overwhelming And I don't. I don't. Know How funding works but I do know that if there had not been this funding. I'd, be in my car.
"cardiff garcia" Discussed on KCRW
"Morning edition from NPR news. I'm Steve Inskeep, and I'm no well, king. So if you look at the state of the economy, you might assume that the housing market is a mess. That, though, is not true. Stacy Vanik Smith in Cardiff Garcia, who host our podcast, the indicator talked to the CEO of Redfin about a surprising housing boom. Glenn Kelman has been the CEO of Redfin for 15 years. And he says for all that time, people looking for a home always put this one thing as their top priority. What about the commute The commute to work? Yes, it's the old realestate mantra. Right of time. Immemorial, location, location, location. Yeah, and most of the time, those locations were big cities where most of the jobs were concentrated. And as a result, buying home in these cities had become a kind of blood sports, The New York real estate market, the San Francisco real estate market, These were insane markets cleanses smaller cities, rural areas, We're just a different world. In fact, over the last few years, housing sales have been a little sluggish. Yeah, that has changed. National Association of Realtors announced last week that from May to June just is a covert 19 crisis was bearing down on businesses and millions of people were losing their jobs. Pending home sales rose more than 16%. That's the biggest monthly rise on record. That is crazy to me, because you know, like one in every five Americans on unemployment, like it's like blowing my mind that homeownership rates might also be going up there that there's a kind of a really ST boom, but it sounds like there is Well, it's white collar professionals were able to work from home. In some ways. This is a sign that the economy has just officially split into. You have people who are worried about unemployment benefits running out and at the same time. Have other people who are able to work from home and thinking about the home all the time, and that's where they want to spend their money. Glenn says that for the people who were lucky enough to have kept their jobs A huge number of them are working from home now, so they're asking the question. Well, why do I have to live close to the office? Why can't I live near family? Why kind of live in a place that's more affordable, And that's changed everything. The traffic to listings that Aaron towns with populations of less than 50,000 people is up 87%. In other words, it's no longer location, location location. It's more like space space space. Glenn says, for example, that he is seeing a lot of requests for extra bedrooms for parents and grand parents. And he's seeing a lot of requests for extra rooms for offices and home gyms. I think some of this is just that people are thinking more about their home. And some of it is that they could finally live wherever they want, without asking their boss and Glenn says he's also seeing a big migration of people out of big cities like New York L. A Chicago in San Francisco to smaller cities like Palm Springs, Tucson, Austin, Grand Rapids in Nashville, and those tiny San Francisco and New York apartments that had people in a bidding war. People are leaving those apartments in droves. Stacy Vanek, Smith Cardiff Garcia NPR news Support for Planet money comes from progressive insurance committed to offering a streamline shopping experience where home and auto.
"cardiff garcia" Discussed on KCRW
"Companies around the world are racing to develop a code 19 vaccine. Ah, couple of vaccines under development in the U. S. Might start clinical trials as early as this month. But how much will people have to pay for it once the vaccine is ready? Cardiff Garcia and Patty Hearst from our daily economics podcast, the indicator from Planet Money, dig into the economics of vaccine pricing. Michael Kinch is the author of between Hope and Fear, a book about the history of vaccines. And he says that making money on a vaccine is harder than making money on, say, a life saving cancer drug. A vaccine generally tends to be a relatively inexpensive short term therapy. You immunize everybody, but you really get that patient population once and at a relatively low price point. Compare that, for example, with a drug for metastatic cancer, where you can price that drug at hundreds of thousands, and now we're reaching the point of millions of dollars per person. And that's much more profitable both of the short term and in the long term In recent decades, the pharma industry has mostly focused on those lucrative drugs and not on vaccines. Which is why Michael argues that pharma companies have been caught flat footed by having to create a vaccine for covered 19. That's also influenced their scientific approach to making that vaccine. Most of the companies in the United States are taking technologies that were developed for, for example, cancer and repurposing them. For covert 19 on this approached by U. S companies has consequences, Michael says an American pharma company that develops a covered vaccine might not actually own the patents on those newer technologies. So for every patient that buys the vaccine, the company might end up having to pay a certain percentage to the other companies that do own the patents. There might be three or 45 or six different patents that you have to serve. Each of them may want a percent or two or three or four that starts to add up very, very quickly charging a lot of money for a vaccine. The public absolutely needs to immunize itself against Covad. Would be extremely controversial, especially controversial if the vaccines developed by one of the cos that's being subsidized by the U. S government certified, the governments pledged roughly $2.2 billion to five US pharma companies, the government and the pharma companies. Obviously both want a vaccine to be developed. But when it comes to pricing the vaccine Have some with different goals. Pharma companies want to charge enough to cover costs and make a profit, whereas the government in the public want prices to be affordable enough that everyone congee immunized. We don't want to dis incentivize the private sector for making a new vaccine. Instead, we want to figure out how do we balance that incentive with making sure that the drug is affordable and available to everyone? Not getting that balance. Right is one of the reasons that have been so few new vaccines developed in the last few decades. Pharma companies know they'll get lamb bastard if they charge too high a price. But charging a low price isn't really worth it to them. Because developing vaccines is expensive. Aligning the incentives of the public in the pharma companies is massively important because his urgent and terribly important is the fight against Cove. It is right now. It probably won't be the last against the threatening pandemic. Patty Hirsch, Cardiff Garcia NPR news.
"cardiff garcia" Discussed on WNYC 93.9 FM
"That was Cardiff Garcia and Steve and expect this episode was produced by Camille Peterson Lena sons Geary isolator woods was fact checked by Britney credit Amanda Rogic this is NPR thanks for listening Kurtz amazing how helpless unions became so powerful yeah the data here just tells a really interesting and powerful story and the guy what is coming up next on how I built this what kind of today are stories about an entrepreneur whose life completely changed when a good friend was diagnosed with skin cancer so she decided to create her own sunscreen without knowing anything about how to market it or how to distribute it I had created the sunscreen swipes and apparently the stripes were you should so I would go around to stores during that period and swipes were always gone and they were just wiped off the shelf but the problem was I knew that my sales couldn't be great if there were no products on the shelves and so I go into as many stores as I could with swipes in my bag and literally like stock the shelves like I give them products which is crazy right from NPR how I built this show that innovators entrepreneurs keyless stories behind the movements on the show today hello Holly thaggard decided it's strange in the news every day and that every time of year and how that idea grew into a multi million dollar brand supergroup.
The Bankruptcy Question
"Jennifer. Hensel is a tour guide in Philadelphia. She gives private tours to students. Corporate groups families. She's been in business for nine years. She's forty-one she is passionate about history and she really loves her job not tour the historic area. Philadelphia is complete without including independence hall behind me. This process she makes about fifty thousand dollars year as a tour guide. But it's a funny business. She says it's very seasonal. The winners pretty dead and the spring. That's when we're starting to get our tour. That's when we're starting to pick up but right win things. Were starting to pick up about a month ago. Jennifer got a call. It was a tour group cancelling and then she got another call and another call and another call like even just talking about it. Like my heart. 'cause I remember there was literally one day where I just had. Maybe three to four months worth of work. Just cancel on me like in one afternoon. I remember standing the the street corner at fourth and market waiting for the bus and try not to cry like I've not a crier but it was just like I it was just I couldn't this business. Jennifer built up over nine. Years was just gone. Decimated is maybe the word that comes to mind and Jennifer's head started spinning going. How do I pay my rent? How to pay my bills rent? I was like okay my landlord. He's actually a pretty cool guy. I could probably talk to him and work something out food. Pb and J. Rahman I probably could manage but Jennifer also had this other debt. I have medical that I had surgery last year because I had a cancer scare. I credit card debt like most Americans and it seems to grow faster than you pay down that credit card debt and those medical bills totaled twenty five thousand dollars and with no income on the horizon and the tour industry just looking like it might be very slow to come back that debt just starting to seem overwhelming as she was riding on the bus and more and more people were calling her and e mailing her to cancel their tours. This word started coming into Jennifer's head. This word that seemed simultaneously like a huge relief in escape hatch and also terrifying and unthinkable a word that now hundreds of thousands of people and businesses across the. Us are thinking of right now bankruptcy. This is the indicator from planet money. I'm Stacey Manic Smith at Cardiff Garcia. Today on the show bankruptcy the bankruptcy process can be confusing an emotional expensive but is unemployment in the. Us moves towards twenty percent credit card delinquencies rise into the millions. Many businesses and individuals are seeing bankruptcy as
Small Businesses On Their Own
"Molly Moon Knight's will is the CEO of Molly Moon's homemade ice cream in Seattle Washington. She opened her business twelve years ago yet. Twelve years ago that was two thousand and eight right is the. Us economy was sinking into a massive recession. Molly was terrified back then but actually her shop did well and one of the things that I learned. Is that ice? Cream is one of the most recession proof businesses or products when people can't get themselves more expensive things going on vacation or or like buying their kids a new bike. They treat themselves to smaller treats. Less expensive treats more often throughout the great recession. Molly's business grew in fact the little shop did so well molly did something. She never expected to do opened more shops by January of this year she had eight shops all around Seattle. At about one hundred employees molly started selling her ice cream to supermarkets and is actually in the middle of building a giant wholesale facility where she can make larger batches of salted caramel melted chocolate scout. Meant which actually has pieces of thin mint cookies in it. That sounds fantastic. And apparently I'm not the only person who thinks so because molly sold almost eight million dollars worth of ice cream last year. I've been really optimistic that I would break the ten million dollar mark in revenue in a year and very very very few female owned businesses ever crossed the ten million dollar mark. So I've been kind of focused on that number and really excited and proud of us and then current virus set and then corona virus. It molly had to clues oliver shops in fact right now. Mali's just struggling to survive. Yes she's counting on money from the government coming through as part of the two point two trillion dollar cares act that Congress passed last month. Small Business owners like molly can apply for loans of up to two million dollars to keep their heads above water. While this economic shutdown continues at least that was idea the billions in aid that Congress directed to small businesses. Only seems to be getting to a tiny number of them. This is the indicator from planet. Money I'm Stacey Vanik Smith and I'm Cardiff Garcia. Today on the show small business aid as of this morning. That fund from the government is out of money and thousands of small businesses including. Mali's are kinda tight dry right now wondering if they will be able to get any help at all wondering if they're gonNA be able to survive
Why The Cost Of Air Ambulances Is Rising
"Two thousand and two the. US Government introduced a new policy that allow private players to enter the air ambulance industry. This decision brought more competition into the market yet. The cost of an air ambulance trip sword. So why do the normal rules of supply and demand not apply. Here's Cardiff Garcia and Rachel Cohn from our daily Economics podcast the indicator from planet. Money to understand how air ambulance services became so expensive. You actually have to go back to a time when they they were cheaper a time when hospitals were the largest provider of the service ambulances really grew out of emergency rooms that decided. Hey we won't have a way to get people here faster. They were owned by hospitals. They were part of the hospital system. They were on the master hospital bill and often covered by insurance because it was a hospital service. So that is Dr Marty mccarey. He's a surgeon and professor of Health Policy and management at Johns Hopkins University. He says that for a long time hospitals were not making money from their air ambulances. They provided that service is because they could start charging patients. Once they got to the hospitals there were virtually actually no for profit providers companies that were trying to make a profit but in two thousand and two this began to change. The government rolled out a new policy. That change just the amount of money that area meals providers could make from transporting Medicare and Medicaid patients. But basically what you need to know. Is that the new policy made it more lucrative for independent independent ambulance providers that groups other than hospitals to offer the service and what this did was to incentivize outside group's thinking of investing in air ambulances. Silence is because now they were assured more money for transporting Medicare and Medicaid patients but also they could provide these services for this whole other group of patients. People not not covered by Medicare and Medicaid in other words people who had private insurance the result is that the number of air ambulances in the US nearly doubled in the vast majority today are owned by for profit providers and so here is where the normal dynamics of supply and demand start to go skew. They start to get a little weird see in a normal. Oh market that big increase in supply. The supply of air ambulance providers would usually mean a good thing for consumers because consumers now have more choice means more competition competition between those providers in usually means cheaper prices for consumers but in the area relents market. That's not what happens. That's because customers in in this market can't shop around and compare prices and services in an emergency situation. The customer doesn't choose which air ambulance provider to call the ritual. You spoke to a a couple who experienced this firsthand so the story takes place back in two thousand eight back then. This man named David Jones Scott into a terrible accident on a New Jersey highway. He was driving with his girlfriend at the time now. His wife Juliet when their car flipped over and tumbled at sixty five miles an hour onto the highway shoulder. First responders honors arrived at the scene and called an ambulance. David was flown out. I so I remember that hearing the ambulance land I was completely out of the car. Getting entreated to Juliette was actually still trapped in the car so emergency services had to cut her out which took awhile and so they ended up calling second air ambulance a few hours later eventually vincent. They made a full recovery but a nasty surprise awaited them exactly so they were actually going over their bills for their treatment together when they realized that they were charged. Different announce for their area blitz transports had a note written contemporaneous. Like it's funny just looking at the the no it says You know seventeen hundred for me and thirteen thousand for Juliette. Seventeen hundred for David in thirteen thousand dollars for Juliette even even though they were transported the exact same distance from the same accident site to the same hospital. I mean there was one difference aside from the price and that's who flew them so David was flown by a public provider but Juliet was flown by a for profit company. So this big increase in supply. It doesn't bring down the price for people getting air transported so the medium price for example charged by an air ambulance for a helicopter transport in the United States. That is now more than thirty six thousand dollars if you ask the Association of Air Medical Services About this there the industry group that represents air ambulances. They suggest that ambulances have become more expensive to provide but Dr mccarey he sees things differently so he says that the main reason these companies are charging so much for their services is because they can. There's nothing to stop them and so quickly. This second back industry grew of private equity companies. Buying up these air ambulances from hospitals managing the services services and price gouging patients going around the Master Hospital Bill. This has created a situation where people have gotten into a lot of debt and are straining straining their finances just to be able to pay off their hefty air ambulance Bill Rachel Code Cardiff Garcia N._p._R.. News.
Gender Bias Reveals Consequences For Female Artists
"Okay for music to art. How many feet famous female artists can you name? No not beyond say or Riana artists like Frida Kahlo and Mary Cassatt. If you're having trouble thinking of more than a handful you may be onto a major problem in the art world. We've been artists are routinely left out of museum exhibits and the work is on average valued much less less than that of their meal. Peers Selley herships and Cardiff Garcia from our daily economics. podcast the indicator from planet money. How that story there was this? This artist named Joan Mitchell. She was an abstract expressionist. She died in the nineteen nineties but she painted a lot. Joan Mitchell was hugely successful and to our world insiders. She's a big deal. But if you're thinking I've never heard of her you would not be alone. KRISTA LATCHFORD IS CEO of the Joan Mitchell Foundation. She's doing remarkably well at auction. The prices are very high but are they. High in relative to Jackson pollock no way are they high relative to Kooning nope paintings by the KOONING and pollock have gone for sixty to one hundred sixty million dollars. KRISTA says there is no record of Joan Mitchell getting. We're close to that kind of money for her work. which brings us to a big part of the reason that people have trouble naming famous women? Artists Artwork by women and men is just valued differently. Rene teaches finance at Oxford and she and some of her colleagues did an experiment. They picked paintings at random and they showed them to viewers. There's and ask them to guess if the artist was a man or a woman on average the Experiment subjects couldn't guess it was painted by man or woman. Renee says it is practically impossible to look at painting and figure out the gender of the artist but she says if the subjects guessed that the painting was painted by a woman they like the painting less renee looked millions of records from auction sales and she found out that on average work by women. Artists sells for forty percent less than work by male artists and because art by women is valued for less museums by less of it and that is how less artwork by women ends up on display in museums. Ziems at the Baltimore Museum of art only four percent of the collection is women artists. The problem is the same major museums around the country. Christopher Bedford heard the museum's director he says that's why next year any new artwork. The museum buys will be by women the various different filters that we put in place to consider acquisitions nations and have always had them. Placed considerable additions and that system comes together in various different forms specific to the museum to filter the history of art and to include or exclude. Unfortunately in the case of women artists often museums have been excluding. KRISTA says anyone who's buying art museums included has to be careful of what's called the superstar effect sales of female artists represent just the tiniest slice just two percent of the market but of the two percent. Forty forty percent is five women. That's what can happen with the superstar. Effect a tiny number of artists. Become like Tokens or symbols and art buyers or museums ziems or individuals. Feel like they've bought something by a lady and so they feel like they don't have to do anything else but then museums can essentially say okay. I've done my female show will move back to our normal Sally herships Cardiff Garcia N._p._R..
The Popularity Of (And Problem With) Municipal Bonds
"Nunis I've been reading quite a lot about this recently in the press hearing hearing Sort of financial TV wise the market for municipal bonds. So hot right neue. Bottom line ever since The trump administration past their new tax tax laws and ever since we are only able to write off a maximum of ten thousand dollars of state against federal and we are really a hamstring. About what our deductions are people. Don't WANNA pay taxes. What is the one area that has left municipal? Oh bonds and it isn't that they are some juicy and high yielding no. It's just that they have been relatively safe and You earn interest. I federal tax free. And if you buy municipals in your state from your state they will be State tax free so all the big tide tax states California Illinois Annoy Massachusetts New York Blah Blah Blah. You know the names those are. The resident said have been buying municipal bonds like crazy road. So they're all after this type. They're basically after taxpayer. They want to save money on Texas. They are but here's the thing about municipal bonds little people think that all Muniz tax exempt. But that's not the case right. That's correct there. There are taxable municipal bonds. And the reason why they created those is the The cities that counties the entities that issue municipal bonds almost almost all have some kind of ceiling on how much they can issue annually and one say reach that ceiling then they can no longer issue tax free bonds and they have to issue issue taxable municipal bonds which are pretty competitive with yields on corporate bonds but my understanding is that those taxable bonds are still just as popular all pillar the tax exempt bonds between the municipal world. Why would that be? It's it's the race for Yael. Everybody wants wants yield and we even find foreigners are buying both tax free and taxable income. Yeah well and you say why would they do that. When you've got negative yields in Japan and in the euro-zone all they want is a rate of return on their money? They don't WanNa deposit their money and have to pay the depository money to hold that money. So we I have this crazy thirst for yield right now. Why why do we have that? Why does that exist? Well we have it because Number one the negative yielding global. Oh bonds have never been more powerful number two if you are an actuary meaning a pension plan A insurance company that has actuary reliability. You have made You have made promises that you're going to be able to produce x amount of income and X.. Amount of capital capital gains a year and that x amount of income has become more and more difficult with the negative yielding bonds globally. So people want to save save they want to invest and they WANNA positive rate of return. So where do they go. The United States of America Corporate Bonds Immune E bonds attacks won't Mini-van so busy because interest us rates are so low. It means that you're not getting the yield on the normal stuff that we used to get sort of ten years ago that yielded quite nice returns to now. You've got to go to more risky things. You absolutely absolutely do or just suck it up and say well. I guess I'm GonNa only earn one point. Four percent on a California general obligation bond in ten years much sex due to go to the junk bond market well the perils. They're quite different than the muny market. But junk bonds are quite popular right now. My understanding is I was reading something the day. WHOA whoa speaking about junk bonds? We should also talk talk a little bit of bites. I don't if you know but this becky with the good yield you know about this becky. No yes you know becky because you spoke to us when we bought a junk bond for Cardiff Garcia. Oh yes MRS homebake off shore drilling just a company that he did not so call becky with the good yields and actually that bond is not jim typically where we bought it to ninety today. It's trading at a bite de to seventy four ninety two so were down a little bit. But that's actually across the junk bond market. The prices are up because people are chasing that healed. And how what does that mean for the economy. Is that a dangerous thing if people are chasing after this high yield dangerous if the economy stumbles not just the US US economy but the global economy. And a Becky I understand then must be in the In the energy area is that correct so one of the worst performing areas in the United States all of last year. And what's happened in the energy space just like the regular investment in space is that corporations have taken on so much debt we are talking trillions and if the economy stumbles and Business starts to your road revenues. Then go down. Interest coverage on the debt starts to deteriorate. And we're going to start seeing it when that happens happens. Many more defaults domino's right the domino theory thing goes on the whole goes on a very very quickly whenever you're leveraged switch or could go slowly because so many people especially in the in the junk bond market last year thought hall. This is the year. We're GONNA have major defaults and it didn't happen to any consequence foot skip onto Muniz. So what else should investors be worried by looking at municipal bonds right no well. The CONGA line is pretty long as far as natural disasters and You know hurricanes and everything that's climate change but I would say one of the big things now that we watch every day that we have a person that scans every news news feed around is cyber attacks cyber-attacks exactly city of Baltimore has been attacked. There have been multiple attacks in small cities in In Florida there was a trauma one health center in New York that was attacked and because they didn't pay the ransom they were down for over two months. And and what does that mean to a bondholder. Why should they care? You have many of those and they have to pay the ransom number one which was not budgeted for or their insurance difference for cyber-attacks. Goes up astronomically. Then you as a bondholder. The amount of money that they're taking in annually starts to get skimpier and skimpier because they have have to pay all these bills that they hadn't budgeted for and you the bondholder have less and less security interesting. Do you think that these risks whether it be the climate change inge risks or these kind of security risk cybersecurity risk are they priced into the bones in your opinion not at all not at all. It's too it's too early for them to have priced it into the bonds uh-huh and I only see cyber attacks getting bigger and stronger and more profitable for the cyber thieves a more devastating for the bondholders holders
"cardiff garcia" Discussed on KQED Radio
"City Pennsylvania they've been welcomed with open arms Cardiff Garcia and Stacy panic Smith of NPR's daily economics podcast the indicator from planet money founded refugees have in turn made big contributions will stuff a node was born in Mogadishu Somalia in nineteen ninety two his father owned and ran a few small businesses we had an ice cream shop and then we had a clothing store but I still would have been there the big money maker back then because someone is a very hot country but tragedy struck most office family when he was just eleven his father was murdered by the terrorist group al Shabab for refusing to give them money the rest of the family had to flee to Kenya about two years into their stay at a Kenyan refugee camp most often order and his family found that they had been selected to be resettled in the US and initially they had mixed feelings in there if you can not always comes as a great news that Sam that bad news because the United States takes the longest to process an abiding down behind a process down the hottest routinely hot about nine checks it is right the vetting process for refugees coming to the U. S. is intense it can take years from a stop his family it took a decade but eventually the family it was paired with a resettlement agency church world service which has a branch in Lancaster it's a nonprofit that receives funding from the federal government and from private donors and it's set up refugee families with a few months of housing some counseling services food and clothing most offices he found Lancaster city and Lancaster County unexpectedly welcoming and that in fact is the city's reputation in two thousand sixteen the number of refugees that were resettled in Lancaster city had a peak of four hundred and seven as a share of the city's pop Lucien that's almost twenty three times more refugees resettled than in the U. S. as a whole so why his Lancaster been able to resettle so many refugees well one reason is resources local organizations will partner with church world service to provide healthcare education English tutoring and job training to refugees long after they've arrived in second Lancaster's history the ancestors of Lancaster's big Amish and Mennonite populations themselves came to Lancaster back in the eighteen century while fleeing persecution and the value of welcoming people in need of a new home has remained in place in fact most of his own experience in Lancaster reflects this my first ever job was I worked with on mission I used to work for a company that the old garages and sheds so I used to install windows he then worked for a marketing company where he trained to be a web developer and now must offer runs his own business it's called bridge a website where people can sign up to have dinner with the refugee family in the area the family charges a fee for the dinners which it keeps and bridge gets a service fee my page was that instead of retraining order given refugees and your skill why not give them a platform where they can on an income with what they already know what they already have which is their culture and therefore missed offices his company is making money and he even has plans to expand into neighboring York County any ads the story shows the symbiotic relationship between the Lancaster economy and its refugees Stephen a Smith Cardiff Garcia NPR news support for planet money comes from Capital One offering the spark cash card for businesses committed to helping business owners turn purchases into meaningful investments that can help drive business forward Capital One what's in your wallet more at Capital One dot com it's NPR news in a morning edition in the next segment NPR's Nowell king is going to talk to screen writer Lena weighs about her new movie queen and slim it's about a black couple who shooter white police officer in self defense during a routine traffic stop that interview that segment is just ahead on the program Wednesday the day before thanksgiving it's KQED public radio with Michael stated for fifty Wednesday morning traffic as it is here's Ted Anthony Michael you were talking about the winter conditions we do have chain requirements for all the major highways in this year and keep in mind on east bound eighty trucks are not allowed to beyond Applegate this due to the winter weather conditions so if you're headed out there and make sure you are prepared did have an accident in one point of reported right near the Dumbarton bridge westbound eighty four looks like that is no longer the case and the action reporter for the bay bridge is just beyond the toll plaza area west down AT both vehicles are off the shoulder now we do others heavy delays at the toll plaza only so far in the outside cash lanes backed up to at least to the end of the east parking lot the metering light store still off until after the for KQED yes the joy of installing tire chains on your car support for KQED comes from the corporation for public broadcasting.
WeWork And The Future Of Coworking
"This message comes from NPR sponsor xfinity some things are slow like simple easy awesome more at xfinity dot com restrictions apply after investors took a close look at the company's books and lost confidence in what they found there here is Stacey Vanek Smith and Cardiff Garcia from NPR's Daily Economics podcast. The came we work we work was not boring or beige it was this whole new way London earlier this year the company was estimated to be worth forty seven billion dollars Sir look at we works books and investors freaked out the companies rolling company I'm all Sarda is the CEO of a company called Motel which he would basically no tell does compete with we work yeah though Amal does say that they have different companies and it will probably benefit from we works implosion though a mall says probably L. Answers or working for tiny startups most of us just worked for big boring companies enterprises. They believe they're big oh in the last couple of years we worked did start to target bigger binny's on the other hand tend to make for more stable tenants and also they just have more money five hundred dollars a month and that is just for access to the lounge common area if you want in extremely price sensitive and they have much cheaper options and if those
The Baumol Effect And Rising Health Care And Education Costs
"Support for this podcast and the following message come from cohnresnick whose business of baseball and original MLB video series shares key insights on the business side of America's America's pastime for game changing strategies to help your business visit cohnresnick dot com slash mlb so we expect prices of goods and services services to go up over time right but why has the cost of healthcare and education risen far faster than things like TV's cars and everyday consumer uh-huh well you can trust economist come with theory they call it the Bomoh Affect Cardiff Garcia and Daniel Kurtz Laban from our daily Economics podcast the indicator from planet money explain how this Works Alex Tab Rock and economist at George Mason University is the CO author of a new book called. Why are the prices so damn high and the answer he says has starts with an economist named William Bommel. He says think about a string quartet in eighteen twenty six it takes four people forty minutes to play this string quartet now. Let's think about the same string quartet in two thousand nineteen live performance same for people will it still takes them forty minutes to produce the music but the price you pay to see that live string quartet has gone up way more than the price price of everything else in the economy the reason why is the bomb will affect some sectors of the economy get better at making stuff every year in other words productivity grows really fast in these sectors for example. Let's say an electronics company can make more flat screen televisions this year with the same number of workers as last year and those workers work the the same number of hours more is produced for each hour of work. Maybe because there's better equipment for the worker sues or new technology that makes producing flat screen. TV's more efficient when a sector of the economy economy has fast productivity growth that means it can afford to raise the wages it pays to its workers without raising the prices of the goods they make there are also some sectors that have very slow productivity growth. They do not become more efficient at producing their goods or services from year to year kind of like the musicians in a string quartet. These workers do not produce much more of the same product. The healthcare and education sectors fall into this category Doctors Nurses Teachers College Professors Their Productivity Tiffany just doesn't go up much every year the reason they don't get more efficient over time is largely because a big part of what their customers want from them is their time their presence since the healthcare and education sectors still have to pay wages that can compete with other sectors of the economy that do have fast productivity growth because otherwise not enough people would become doctors nurses teachers professors or playing string quartets the way that the healthcare and education sectors pay those higher salaries is by raising the prices of what they sell since the workers in these sectors are not making more stuff to sell each year the businesses that hire them the schools colleges hospitals they have to raise as their prices so they can afford to pay those rising salaries and when Alex analyze what was happening in the healthcare and education sectors he found that not only had salaries for education healthcare co-workers climbed year after year for decades but also we have more of them than we used to because teachers are fairly well educated and skilled. We have to to pay them at least as much as could earn elsewhere. The cost of healthcare and education would still rise faster than the costs in other parts of the economy simply blay because productivity growth in healthcare education is slower that is the mechanical relationship explained by the ball effect Cardiff. Garcia Danielle Kurt Sleeping N._p._R. News.
"cardiff garcia" Discussed on KQED Radio
"Trump won't have to turn over his tax returns to the Manhattan district attorney at least not today from member station W. N. Y. C. Andrea Bernstein has more a federal judge has temporarily state a wide ranging subpoena into trump's business records from the years prior to his presidency the judge says he's giving the US justice department a week to weigh in in the meantime he's directing lawyers for trump and the Manhattan D. A. to work out a schedule to turn over documents both sides indicated they didn't want to do that comes lawyers claim the president can't be prosecuted under any circumstances well the DA argued that trump has no legal basis to block their grand jury investigation if they get further delay the DA's attorney said they win for NPR news I'm Andrea Bernstein in New York
"A few months ago. The indicator put out a call to young adults on instagram asking if they would share with us their experiences of navigating the economy. That's how I ended up speaking on the phone with just pre from Houston Texas who squeezed in the call in typical youthful fashion in the middle of running some errands on a work day and actually he's parked outside of a floral whole sale shop getting some things foreign events this weekend in crazy when the great recession and ended in two thousand nine jess was twenty three years old she was working lots of odd jobs and was getting paid close to the minimum wage and throughout a lot of her twenties like a lot of us just what a networking her way into better jobs before a while she stayed living at home with their parents and tried to save money because she was stressed about the nearly fifty thousand dollars in student debt that she needed to pay down anytime. I got a bonus or anything extra even if it didn't go towards that I always felt like it. Should you know I didn't even an almost didn't even feel like I could even begin to date with all of that loan but when she was twenty nine she started dating James who would later become her husband and she actually worried that he might break up with her when she told him about all her debts but he didn't. He was supportive instead. The couple's started plotting out their joint expenses his on a spreadsheet. I think I love them for a while. A lot of the biggest entries were justice student. Loan Payments Have Lee why we haven't even really we just recently. We started talking about buying home why we were like we've got at least get. This halfway whittled down before we even start trying to have kids. You know for a long time. NFL really responsible for kind of the lay in our adult lives just is not alone compared to earlier generations young adults. What's now and yes fine. I hate the word but we'll call them. millennials lentils are living at home longer. They're getting married later. They're having children later and they're putting off buying houses and this has led some people from earlier generations to label millennials as lazy or coddled or afraid of becoming adults to make commitments. Winston put down roots but that is a bum rap. I'm Cardiff Garcia and I'm Sally herships today. The indicator from Planet Money We Co Colonial Myth busting craft you feel strongly about this. Hell yes
"cardiff garcia" Discussed on KQED Radio
"It's morning edition from NPR news I'm re tomorrow and I'm Steve Inskeep good morning politicians need money to run a campaign but as we know from experience the candidate with the most money does not always win so it is more money mean more votes NPR politics reporter Daniel Kurtz Leben teamed up with Cardiff Garcia of NPR's planet money have a look at Hillary Clinton for example in twenty sixteen Hillary Clinton and the groups that supported how raise Donald Trump and his groups by more than three hundred million dollars in the twenty sixteen election and still he won the one big important thing we can say you do need a certain minimum amount of money to run seriously for president that's according to shore from hold executive director of the center for responsive politics it's essential but it's not sufficient on its own candidates need to have enough money to get their message out to pave the staff that will run their campaign their field offices there's also other basic stuff you need to be a competitive candidate like name recognition put ads out there do a lot of events and you can get more people to know who you are long story short according to Sheila money doesn't buy the message but it can be a heck of a bull horn even if they have good ideas and good charisma and they also need to have that money to be able to get that message out yeah but wait because we're focusing a lot on what money buys but it's a really limited way to look at all this which brings us to important point number two about campaign fund raising money isn't just about buying stuff right campaign money has a big signaling affect when a candidate gets a lot of money if first of all we'll get some media coverage but beyond that there's another important fact money begets more money it signals to other donors that yes I can do this yes I am a safe investment which means there's also a timing aspect to your political donations Sheila told me this and she referenced a popular democratic fundraising group this is the basis for bundling up. operations like Emily's list which stands for early money is like yeast that early money helps you raise that Joe whether it's done earlier late in the cycle there's one more point here fundraising just cost money often a lot of money and that might sound counterintuitive because of find Donald Trump for Elizabeth Warren or whoever I could just send out an email and let the money roll in because sending an email is free well that turns out not to be true though first of all you have to buy lists of email addresses and those can cost tens or even hundreds of thousands of dollars in order to even get on to the stage for those televised debates you may have seen candidates have to hit a certain polling threshold and get a certain number of donors so a lot of candidates are reaching out on line to their list saying listen just give me one dollar it's this weird situation where a one dollar donation is much more valuable than a dollar one staggering statistic here according to the center for responsive politics some democratic campaigns are spending thirty five dollars or more to get just one dollar through a Facebook ad campaigns are making a calculation that being on that stage being on national television taking a jab at an opponent that could be played on cable news the next day is worth it Daniel Kurtz leave.
Trump And Trade: The Point Of No Return?
"You've had one indicator from planet money. I'm cardiff garcia and i'm joined today by n._p._r. Politics reporter daniel kurt slave and she's back. She's going to be with list for a couple of weeks l. Hello how's it been. It's been exhausted that you've been on the campaign trail yeah. I've been out there but i get to go to iowa. I know where you're from. The greatest eighty two state in the union people should know by the way that even though you're a politics reporter your specialty is economic policy right yes. There's a reason i'm here. It's not like he just recent to the n._p._r. Hat that's nice <hes> but seriously listeners if you've got questions about economic policy in particular day while she's here take advantage of it emails indicator n._p._r. Dot o._r._g. Or find on twitter at at tunca t. i. t. o. n. K. a. has town town. I'm from but yeah you have a question about a candidate's policy economics healthcare something in that realm lemme know yes right and for now on with today's show and speaking of economic policy if you had to boil down the trump administration's approach to trade into a couple of main points the i might be that he's been challenging orange the institutions that oversee global trade the institutions that determine the rules by which countries trade with each other like the w._t._o. The world trade organization and the second point of course to make is that there's been this huge trade war with china in which both countries have enacted huge tariffs on each other's goods right and there's been a lot of heated debate on the wisdom of this approach and most people have at least assumed that this was all part of a larger negotiating strategy by the trump administration but what if that's not true and what if frankly frankly it's too late anyways so that even if the trump administration does get the trade deals it wants the damage that's been done to the global. Trading system can no longer be undone. These are the possibilities explored in a big new essay in foreign affairs magazine. That's been co authored by our old friend. Chad bound the peterson institute today on the show a chat with chad about this pessimistic but
How 1 Farmer Navigates California's Strict Limit On Groundwater
"California is putting new limits on the amount of groundwater the businesses can use. This comes after years of devastating drought. Stacey Vanik Smith and Cardiff Garcia hosts of the NPR podcast, the indicator from planet money brings us the story, they spoke to one farmer about how he's navigating these restrictions using an innovative new micro market for water. Edgar Terry is a farmer in Ventura County, California. He meets us on his farm, and it is absolutely beautiful rolling Brown foothills, and Greenfield's Iggo, celery, salon tro peppers. So what was the drought-like for you? Well, you know, we managed through it. The scary part was were were standing next to one of our newer water wells here. And when we drilled that well in two thousand and ten are standing water level was thirty five feet as of the end of last year. It was down to one hundred thirty five feet at one point during the drought. The water level in edgar's aquifer got so low some of his pumps, couldn't reach it. Things are much better. Now California's drought is officially over and Edgar takes us to see the pump, it is a fat white pipe that rises up out of the ground with a little wheel on it and Edgar turns the wheel and starts the pump. We have water. Before. And during part of the drought egg could pretty much use as much water as he wanted from the aquifer, but new regulations have capped his use, in the amount of water he can use. We'll get a little bit smaller every year. It has to be reduced to percent here for twenty years for a forty percent reduction of water to get there. Well, so in essence all else being equal forty percent of my land fallow. If your allotted water isn't enough. You could lose your crops, if you use more than your share of water, you face huge fines. So Edgar teamed up with who else an economist to create a marketplace, where local farmers who shared the aquifer could buy and sell water. If a farmer had extra water that farmer could set the price posted to a website and if a farmer needed water that farmer could go to the website and buy it. But there was a problem, Ed, courses the way a farmer uses water is a proprietary thing and the idea of your neighbor knowing how much water you use. And when you're using it that was just a nonstarter. So. The economists created an online, marketplace, that's kind of like Tinder, but for buying and selling water and with one big difference, which is that it's all anonymous buyers and sellers are machine matched you put into the market algorithm. What you're willing to sell for. I put into the market algorithm. What I'm willing to buy for the pilot is just getting started. But Edgar says he holds out a lot of hope for this idea. He says, if farmers own share of water instead of just having it be a free resource. They will use it better. Be more responsible with it. Otherwise without that ability, the incentive is, well, heck, I need to drain the for before my neighbor, dozen. Well, what good does that do it puts us both out of business? Let's think about a way of creating a system of market forces, where there's an incentive to conserve and also in you're able to still grow your crop. Edgar expects water costs will continue to be a bigger and bigger issue for his business. But he says he wouldn't do anything else. I couldn't imagine. Myself sitting in a high rise looking out over a sea of other high rises. I like looking out over us. See of dirt. Stacey Vanik Smith. Cardiff Garcia, NPR news.
"cardiff garcia" Discussed on KCRW
"Things considered from NPR news. Six years ago, Japanese Prime minister Shinzo Ave announced a new policy called women onyx, the goal was to help women get into the workforce since then the share of women in their prime working years with a job has gone up from seventy three point six percent to seventy seven and a half percent. That's two million new women in the workforce, Cardiff Garcia and Pamela boy, cough from our podcast, the indicator from land money, took a look at the program to see how it got there. What worked? And what didn't Japan's women actually now work at higher rates than here in the United States? There's no single element driving this increase, but a bunch of smaller factors mix together, and we're gonna talk about three of those factors and those three are changing public attitudes new government policies, and economic anxiety. Let's take those intern survey show, a declining percentage of people in Japan agree with traditional gender roles. This idea that men should go to work while women take care of the home in the family, and having the prime minister of Japan, come out and. Talked publicly about wanting more women in the workforce was a big deal because it encouraged people to talk about just why it's so hard for a lot of working women in Japan. And what needs to change. This brings us to the second factor. That's contributed. Two more women working policy changes, for example, one problem that's been standing in the way of more. Japanese women working has been shortage of daycare, Japan's daycare system is heavily regulated and subsidized by the government. And it just hasn't kept up as of last October more than forty seven thousand kids across the country were on the waiting list for daycare. I met this woman. I con. Oh, she's thirty two and she works in marketing a manufacturing company Khanna went through this, when she a find somewhere for her son,.
Selling Dinosaur Bones On eBay
"You can list all kinds of things on EBay, right? Secondhand books. Vintage clothes couches, but dinosaur fossils. Yup. You can make good money selling fossils online. But that does not sit well with some scientists Cardiff Garcia and Stacey Vanik Smith. They are hosts of NPR's podcast, the indicator from planet money, and they've got the story of one guys attempt to e sell a tab Ranna Storace. Rex here is the specific EBay listing for the T. Rex it. Reads young baby t Rex dinosaur fossil the price two point nine five million dollars. So first question who has a T Rex to sell on EBay? I I'm Alan Dietrich. And I'm a professional dinosaur hunter in the US. If you find a dinosaur on your property you own it. It's yours so Fussell hunters like Alan go to fossil country. I went to where they would find the big p Rex's Garfield county, Montana and carting county, South Dakota. The find the person who owns the property where the dinosaur is Andy says, let me look around your land for dinosaur bones. And if I find one I'll give you a cut, Allen's found a lot of fossils this way, including the baby t Rex binding dinosaur bones and selling them to museums and private buyers is how Allen makes money one of the pioneers of this business is Pete Larson. Larson runs. The black hills institute of geological research in South Dakota. So far, we've collected ten different trying to source. Rex skeletons partial skeletons, and that's kind of a record. I guess okay. Pete is being modest there around forty t Rex skeletons that have ever been discovered and Pete has found ten of them. When Pete started out in the fossil business in the late seventies. It wasn't really a job that people had but that changed in the mid nineties when a couple of things happened. I. That's such a good ROY even Spielberg happened. Yes. Even Spielberg happened addressing progresses. Huge hit. And suddenly everybody was super individuals and wanted to hunt for them a number two one of the T Rex is that Pete Larson found a T Rex named sue fetched more than eight million dollars from a buyer and people thought, whoa. There was real money to be made in dinosaurs. And suddenly Montana and South Dakota. We're just like crawling with fossil prospectors and fossil hunting win from this kind of sleepy shoestring academic pursuit to a pretty hot little business. Allen Dietrich is hoping to get a premium for son of Samson because it's the only known baby t Rex. So I'm looking at it. Now, it's two point nine five million approach to cheap. You probably it's priced to move. And sale. Yeah. Now, the for profit fossil business has caused a lot of controversy among museums and the academic community because some of the people hunting just have no qualifications. So they can end up easily destroying priceless fossils. But Larson says the fossil market has to evolve with the times without these private collectors. Most museums would not be able to get real fossils for exhibit, the EBay place seems to be working Allen dietrick says he's got an offer. Who is it a good offer? Well, I'm gonna use a double entendre with you. Okay. It's a bona fide. Stacey Vanek Smith Garcia NPR news.
Why Do Introverts Get Paid Less?
"So recently, a listener named Sean asked this really great question that we wanted to answer during the show, but he declined to send us a voice recording of the question. We asked him if you could send a voice memo to us, and he said, no so Cardiff is going to read the question. Instead, Sean writes, quote, I'm a classic introvert. I was wondering if anyone has ever done in income comparison between introverts and extroverts is my introvert nece, costing me money, unquote. Oh boy. Yes. It introvert asking a question about this. So yeah. Yeah. Makes sense. He didn't wanna ask it out loud. Yes. It does. But it's a really good question today on the show, we take a look at the research about this who makes more money, and why introverts or extroverts? Support for this NPR podcast and the following message. Come from Cleveland Clinic ranked the nation's number one heart care, according to US news and World Report for information on complex cases treated at Cleveland Clinic, or to get a second opinion. Visit Cleveland Clinic dot org slash heart care. Support. Also comes from weeks dot com with wicks you can create a professional website for your business. Choose a template designed for your industry and customize it to match your brand go to wicks dot com slash indicator to get ten percent off. So the question we got was from Sean, our listener who wrote into ask about whether introverts get paid more or less at their jobs than extroverts. So to answer this. We called an economist who studies this very topic the relationship between personality traits and economic outcomes. Hi, my name's Murugan sake. I'm assistant professor of economics at the university of Copenhagen. And we got right to the point. We asked professor hausky what we. Can tell our introverted listener Sean about whether introverts or experts make more money, we can tell him on fortunately because he characterizes himself as an introvert that extroverts are clearly more than introverts do. And that difference in earnings is actually quite large. No, no. Desserts. Well, anyway, professor Kansas Gonzala arrived at this conclusion in recent paper in which he looked at data collected in a very famous study done between the years nineteen twenty one and nineteen ninety one. And in the study, the people being studied were roughly eleven or twelve years old, and their parents teachers rated them on how introverted or extroverted they were for example, if a kid was really popular and showed a fondness for big crowds. The kid was rated as more extroverted and then every five or ten years after that as the kids grew up into adults. The study would collect data on how much money they were making. And there was better data available about the men in the study than the women because of course, throughout those years in the twentieth century career opportunities were limited for women. So professor hausky discusses the findings for men when it comes to lifetime earnings. So, you know at first card if we were looking at the study, and we were kind of picking it apart a little bit. And as it turned out. It was a group of men in California who had really high cues, and we're like. Yeah. This is just a very particular case of California dudes with high cues who are extroverted happened to make a lot of money. So maybe it's different for people who live elsewhere or maybe things have changed since the early. Nineties industries have changed trends of change tech is really big. So maybe now introverts get paid more or the same extroverts. Maybe the study lettuce astray. Yeah. Professor says sorry, probably not no even emailed us. A bunch of other studies confirming the same thing for people without hike us who don't live in California, and who have done this during more recent time periods this has been replicated in the recent years and in many different countries. So we have data on the Netherlands, and the UK and Germany and places like that for you find very similar effect that the extroverts are more. So, you know, the data shows the more extroverted, you are the more. You get paid. How much more here is kind. A simplified explanation of what professor hausky found if you take one person who is right in the middle of the spectrum of introversion and extroversion. So you know, it's not that easy to save. The person is an introvert or an extra just kind of in the middle somewhere. And then say, you take another person who is clearly an introvert the introvert will make about half a million dollars less throughout the course of their career. Yep. That's the normal person's explanation, by the way, if you do want the jargon explanation with talk of standard deviations and whatnot will include a link to the studied NPR dot org slash money. And you can dig in there. But by the way, as Stacey hinted earlier, something our listeners might be surprised to learn that the two of us, we are kind of introverted usually. Yes. In. So we asked professor hausky. She had at least some good news for the two of us. But honestly, her first response kinda backfired. I would say there is hope because you know, being integrated doesn't mean that one cannot try to mimic some of the behaviors that the extroverts have. Oh, yeah. She means things like being more outgoing speaking up at meetings trying to meet more new people, even when it's uncomfortable. But still the answer was a bit of a bummer it, you know, either we get paid less or we have to pretend that were someone. We're not I don't know rock and hard place, your introverts. Yeah. Though, there were some other reasons that professor hausky says introverts should not lose hope for one thing. It is not clear why extroverts make more money than introverts. So it is not necessarily the case that being extroverted will make someone better at their job. It could be extroverts are just better at getting the attention of their bosses and that gets them bigger. Raises and bonuses than introverts get. And if so that is something that employers could fix if they realize it identified it in you know, wanted to pay people bothered. And. Poor introverts in my research. Also find that this effect of extroverts earning more than introverts that doesn't appear early on in these men's career. So at age twenty five for example, there are no significant differences between earnings of introverts and extroverts, but after thirty five forty then you start really big a big gap opening up. So it could be that this is working through the promotions mechanism could be she says, it's not really clear in that a lot of this is just speculation. Plus there are a bunch of other complications. For example. There is no one agreed upon definition of introversion and extroversion. So like, one example is definition that says introverts are more oriented towards their inner thoughts, whereas extroverts are more oriented towards what's happening like in the world around them outside their heads. Another definition is that introverts prefer environments that don't have too much stimulation like other people talking or music, or you know, just a lot. Things happening engine plan offices Cardiff. This is basically the Cardiff Garcia definition of introverts into apparently prefer quieter more, peaceful less crowded environments, and they often need some alone time to regain their energy after they've been around people a lot without having a set definition agreed upon finishing. It's just hard to know how introversion will affect any one person's earning situation. But the story that Stacey Neier running with is just past is not prologue saloon not into her to the world unite. It's coming in his we'll never want to have a meeting. But but it is the case that the workplace is constantly changing. And it's impossible to predict what it will look like in the future. So just because the extroverts have been paid more until now doesn't mean that they're advantage will last forever because maybe just maybe as more research, like professor house keys is brought to light companies themselves will adjust and they'll finally realize that, you know, the loudest person in the room should not necessarily get paid more squeaky wheels should not always get more oil. Instead, you know, maybe the people sitting around can stop talking and let people get work done
"cardiff garcia" Discussed on KQED Radio
"I'm Rachel Martin. And I'm David Greene. Three of the most important economists in this country, set down for a panel at an economic conference in Atlanta last week, former fed chair, Ben Bernanke, he and Janet Yellen along with the current pitcher Jay Powell were talking shop and also talking about the latest jobs report, but as Cardiff Garcia and Stacey Smith from our planet money podcast, the indicator. Tell us a stellar jobs report is not always a good thing. It was a pretty stellar report. Three hundred twelve thousand jobs added in December strong wage growth and. Of course, unemployment is still below four percent. And then here's Jay Powell's response. That's quite welcome. And also for me at this time does not raise concerns about to high inflation does not raise concerns about to high inflation that seems like a weird comment to make right? We add it all these jobs. But that doesn't mean I'm worried about inflation, but it communists, discussed a relationship between unemployment and inflation all the time that relationship is sometimes referred to as the Phillips curve. And that's this idea that if enough people are working, it will cause inflation the prices of the things that we buy will start going up, and according to the Phillips curve, the reverse is also true. So if unemployment goes up then inflation should come down because then companies don't have to raise wages to compete for workers. There's more workers out there who needed job, and we got kind of test of this back in the late seventies and early eighties. Inflation seemed to be getting out of control prices were rising up and up and up and get inflate. Under control, Paul car. He was the head of the Federal Reserve at the time raised interest rates all the way to twenty percent by comparison, by the way, short-term interest rates right now are two percent. But will Volker did lead to a week or economy and unemployment went up all the way up to ten percent inflation. No did come down. And so everybody's wondering is chair pal to worry about inflation and easy then gonna keep raising interest rates to prevent inflation from spiking higher for me. At this time does not raise concerns about to high inflation. Powell saying the even though unemployment is low and wage growth is rising. It doesn't necessarily mean that higher inflation will follow. So this relationship between inflation in jobs, even though the Phillips curve predicts it Powell's not really seen it. Let's curvy so NICKY Phillips curve dead to use a slaying, economic jargon. This is an indulgence phenomenon. Dodges phenomenon. Exactly, I was just thinking that basically what banenky saying is that the relationship between unemployment and inflation has changed people saw that the Federal Reserve would raise interest rates really high. If it needed to to bring inflation back down and ever since then inflation has stayed low. And here's the key people and companies act accordingly because if they worry that inflation was going to be much higher in the future. They would spend more money now and companies would raise prices to try to get ahead of the trend and that would contribute to inflation going higher right now. But that's not happening. What Ben Bernanke you saying is it precisely because of what the fed did in the past that the link between low unemployment and high inflation is weaker than it used to be. And that's the quote endogenous reason why the Phillips curve is so flat. So economists still strongly debate whether the Phillips curve is really dead or just resting. But if it is then it was possibly killed by the people in this room people with this job. Fed chair. Other words, it's indigenous. Stacey Vanek Smith Cardiff Garcia NPR news..
"cardiff garcia" Discussed on On Point with Tom Ashbrook | Podcasts
"How often do people lie on dating apps and a robots taking over our jobs? I'm Cardiff Garcia co host the planet. Money's indicator. Where everyday we tell you a short story about the economy get it on NPR one or wherever you get your podcasts. This is on point Meghna, trucker Bharti. We're talking this hour about the battle against clutter and y for many Americans all the clutter in our homes leads to lower life satisfaction. Today's conversation was sparked by the fact that decluttering guru Marie condo has a new net. Flicks series. It's called tidying up. And there was a particular episode of tidying-up that I actually found to be really really emotionally poignant. If features southern Californian Margie who had recently lost her husband of forty years and had been nine months since her husband had passed away and mortgage said that she no she wanted to move forward with forward in her life or with her life. So she asked Marie condo to help her declutter. Her house, but it was very hard because Margie talked about in this episode how she attach is the things that are husband used to own where with very profound memories for her. So let's listen to a scene. This is where markets talking about how hard it is to go through her husband's clothes. You know? I looked at those shirts, and I thought of all the hopes and dreams he had while he was in his Hawaiian shirt phase. And then it went into the cowboy phase. And you know, I it's just kind of a real jolt to see all this life. You know that we've lived in the dreams that he had. And you know, there are now in a pile on the floor, and my closet is empty, and that that was a very big jolt from me today that's Margie in a scene from Marie condos new Netflix series tidying up. Now, Joseph Ferrari, I wanted to play this in particular because we've talked repeatedly about the attachment that we have to our things and the sentimentality Ramoche in that we bring to objects in our lives, but you here in mortgage voice in her story there. There's a reason for all of this that that that thing that things that we acquire through time and our life experiences..
"cardiff garcia" Discussed on On Point with Tom Ashbrook | Podcasts
"How often do people lie on dating apps and a robots taking over our jobs? I'm Cardiff Garcia co host the planet. Money's indicator. Where everyday we tell you a short story about the economy get it on NPR one or wherever you get your podcasts. This is on point a Meghna trucker. We're talking this hour about the battle against clutter and y for many Americans all the clutter in our homes leads to lower life satisfaction. Today's conversation was sparked by the fact that decluttering guru Marie condo has a new net. Flicks series. It's called tidying up. And there was a particular episode of tidying-up that I actually found to be really really emotionally poignant. If features southern Californian Margie who had recently lost her husband of forty years and had been nine months since her husband had passed away. And mortgage said that she knew she wanted to move forward with forward in her life or with her life. So she asked Marie condo to help her declutter. Her house, but it was very hard because Margie talked about in this episode how she attach is the things that are husband used to own where with very profound memories for her. So let's listen to a scene. This is where markets talking about how hard it is to go through her husband's clothes. You know? I looked at those shirts, and I thought of all the hopes and dreams he had while he was in his Hawaiian shirt phase. And then it went into the cowboy phase. And you know, I it's just kind of a real jolt to see all this life. You know that we've lived in the dreams that he had. And you know, there are now in a pile on the floor in my closet is empty, and that that was a very big jolt from you today, that's Margie in a scene from Rekondo's new Netflix series tidying up..
"cardiff garcia" Discussed on The Indicator from Planet Money
"So Cardiff, I was recently on vacation her member very lucky person. I went to Greece which I highly recommend lot of history there too. I spent a lot of time in museums. Because I am me. Asked you to spend a lot of time on the beach and not nerd ING out on economics and finance. I mean, you know, but they called to me. I, you know, I just I love these places. They have all these relics and old manuscripts and stuff. I was in heaven anyway, most of the older manuscripts. They're like in Greece thousand years old. It's amazing mostly bible text bible text bible texts was going through this museum. And then I saw on the far while this museum this huge parchment scroll here chicken you haven't seen this yet. Wow. It's like bigger than person it's taller than a person and about half as wide it seems it's like seven feet long just this long scroll at this. Big gold seal on very fancy, but guess what it was about. What? Taxes? Yes. Of course, of course, it was about taxes because you couldn't help yourself geeking out on economic stuff while on vacation in Greece is about tag. I was beside myself. I was so excited. In fact, according to this museum, this long seven foot, scroll was a list of tax exemptions. That was granted to a particular monastery from Alexia the first emperor of Byzantium in ten eight and this time he thinking because like, I know the taxes are important, right, obviously raising money is important for a government for an emperor. Like are. They this important. I mean, why are tax exemptions worthy of of this? I mean, the two things on manuscripts in this museum were like, our immortal souls and taxes, maybe Byzantium had at lobbying for for tax breaks to totally possible. I, but I started thinking have I been thinking about taxes the wrong way? This whole time. This is the indicator. I'm Stacey management. And I'm someone who knows how to take a proper vacation where I'm not thinking about work the whole time. My name's Cardiff Garcia, the show the history of taxes and their relationship with democracy..
"cardiff garcia" Discussed on The Indicator from Planet Money
"Haven. I'm Cardiff Garcia and I'm Stacey van Smith. This is the indicator from plant money last week on the show. I spoke with behavioral economists, Oregon mama N'Diaye, and she shared with us her research on how the economic events that we live through end up shaping our psychology in specifically how those events end up shaping our willingness to take risks. What my research suggests is that living through crisis in a particular market, say, housing, market crisis, or stock market crisis will affect your willingness to take risk in that specific market for decades to come. You will be in the crisis case more averse to taking risk in that market less willing to invest in that market. Most of our chat with professor Melman was about these psychological scars about how the financial crisis has made us all more cautious, but she didn't give one example of how that caution is affecting the economy. She pointed out that the share of people who own. In their home is still lower than it was before the housing crisis, especially for people in their thirties and forties. And that's partly because they're just more cautious about borrowing money to buy a house after they witnessed and endured what happened in the crisis. And it kinda got us thinking, yes, yeah, everything gets us thing. That's true. It's our job. So where else are we seeing these signs of caution that might be the result of the psychological scars that professor mom and DA studied? So on today's episode, we share with you some other places, including a few surprising places where we see evidence of this caution in the US economy scar hunters. Support also comes from Exxon Mobil. They're driving growth in American communities by creating jobs in energy on the Gulf Coast alone..
"cardiff garcia" Discussed on How I Built This
"Thanks also to synchrony financial synchrony financial has the payment tools technologies and insights to help people realize their own unique ambitions secretly financial what are you working forward to ooh how much would you pay to avoid morning traffic choir plane tickets the boise so expensive i'm cardiff garcia cohost of the indicator and every episode we take on a new unexpected idea to help you make sense of the day's news listen every afternoon on npr one or wherever you get your podcasts hey welcome back to how i felt this from npr news i'm cairo's so it's ninety six let's face it becomes bliss and it opens as a day spa in new york's soho neighborhood and almost instantly the phone's ringing off the hook soak in a very short period of time mercier decides to expand to double the size of bless chelsea gets married around this time to avoid friend tearing and he joins the business in the two of them decide to try new things like make a line of skin care products under the name bless in soon they start talking about expanding to other cities but just as things start to take off this is three years in the business a huge multinational brand comes knocking lvmh the conglomerate that owns louisvuitton and they want a piece of bliss seventy percent and they're offering mercy at a lot of money of the amount of money that's been reported it was anywhere from thirty to fifty million dollars for that uh that seventy percent stake which is a lot but you guys were chest hitting your stride so why did you sell at that point but you know for about a year prior to 1999 of we actually had a lot it was a it was a hot time for beauty companies so retrospectively there were a lot of cool new companies starting and a lot of interest in those companies from the big beauty conglomerates they were starting to buy up smaller players rather than in trying to build their own and of course bliss had such a reputation that we we had more than one large large company come and try and get us and i think the most exciting thing for me at that time was the idea of not having all if the financial responsibility for that business on on my head we actually were.
"cardiff garcia" Discussed on The Indicator from Planet Money
"Last june the price of oil was forty four dollars a barrel it had been around that price for about a year and then it started climbing earlier this week it hit seventy dollars and that's today's planet money indicator the price of oil is now just beneath seventy dollars i'm cici hanoch smith and i'm cardiff garcia the price of oil is a big deal how much you pay for heating or a gallon of gas or a flight home all depend on it but it's also famously volatile that in the last six or seven years it's taken an incredible rise then the show those behind him and what's gonna happen next support for this npr podcast in the following message comes from slack where work happens all over the world nomura losing time context switching more than 8000 apps seamlessly integrate with slack so that's less time jumping between tools and more time getting things done more at slack dot com there's something really important to understand about oil prices one of the things about lulu market is that right from the very beginning right from the very her welldrilled in 1859 it has been characterized by these big clunky of boom and bust that's john camp a senior analyst at writers and he says just in the past few years we have seen this massive boom and bust cycle repeat itself before the middle of 2014 we'd had three years of exceptionally high oil prices 2011 2012 2013 in the hull 2014 we'll prices averaging well over one hundred dollars a barrel which is very high in historical terms.
"cardiff garcia" Discussed on Car Talk
"Support for npr and the following message come from georgetown university featuring parttime master's degrees answered certificates in downtown d c and online information at sc s dad georgetown dot eu slash npr how much were you pay to avoid morning traffic wire plane tickets the boise so expensive i'm cardiff garcia cohost of the indicator and every episode will take on a new unexpected idea to help you make sense of the day's news listen every afternoon on npr one or wherever you get your podcasts ludi lin the old the poll was held i hope woke of the car talk from national public radio with us click and collect the tablet brothers and we're broadcasting this week from the new luddite support group arts idlib talk about luddites but but here's an interesting thing it a german motorist actually for some strange reason driving a bmw drove into a river and he is why a german motorist obediently following the satellite guided navakit navigation system of this car drove straight into the hobble river in east germany eastern germany police said on saturday he drove his bmw passed a stop sign down a ramp and above four meters into the river before stopping nobody was hurt he was following the system which had failed to note that the road in the town of cap with near potsdam ended at a ferry crossing so he i mean the pink says they were great you press the little button that what you wanna goro seed fall one point three kilometers swing threecolumn right turn point two kilometers right turn point one kilometers and he takes the right turn down the ramp on the various votes through thick of across the river he just drives right and if there is ever poetic justice that's it indeed i love it at is that what you wanted to talk about at that you wanted to write you i had the feeling the nominee went on ranted array i i i'm in the process of working on that as you know i am i am i am being made crazy by just about every technology night they tell the truth will back it all started with his printer my brothers printer what's the technical testy craft.
"cardiff garcia" Discussed on Ask Me Another
"Support for npr and the following message come from georgetown university featuring parttime master's degrees answered certificates in downtown d c and online information at sc s dow georgetown dot edu slash npr how much would you pay to avoid morning traffic wire plane tickets the boise so expensive i'm cardiff garcia cohost of the indicator and every episode we take on a new unexpected idea to help you make sense of the day's news listen every afternoon on npr one or wherever you get your podcasts dave from npr and wnyc coming to you from the bell house in beautiful brooklyn new york it's npr's hour of puzzles word games and trivia asked me end up i'm jonathan potent now here's your host oath era eisenberg dude yana them we've got a great show for you for a brilliant contestants have already abandoned their new year's resolutions but they are here to play or near two games and one of them will be our big winner and our special guest is breakout star luca cane from the lgbt movie saturday church and get this he's only 17 years old which means the only two people he can be jealous of our shirley temple and wolfgang mozarts uh you know what i was doing when i was seventeen pretending to be twenty one our first two contestants waited in line four hours to play a game that lasts four minutes let's meet them first up at nina glickman on buzzer number one you advise students at an education nonprofit welcome thank you great to be here your opponent is kate scott on buzzer number two you're the house manager at a performing arts center welcome thanks great to be here nina and kate the first of you who wins two of our games will go on to the final round this is a guessing game called for your amusement park will describe an amusement park or attraction you tell us if it's real or something we made up and we're gonna alternate back and forth so no need to bring in here we go nina gator land if you survive the screaming at gators zip line you can hand feed alive look eaters real or fake.