Every weekday on Marketplace, Kai Ryssdal hosts a lively and unexpected exploration of the day’s business and economic news from Wall Street to your wallet.
Seeing how we've started this program more than once with a tweet from the chief executive, we'll start today with a tweet from a chief executive. Pharmaceutical CEO Kenneth Frazier was a member of President Trump's Manufacturing Council until this morning. He announced his resignation on Twitter, citing Trump's belated response to the events in Charlottesville, Virginia, last weekend. Trump responded with two searing tweets Monday about drug prices. Frazier and the dozens of other CEO advisers to the president are once again facing scrutiny over their response to a national issue with Trump at the center. Then: One small fishing town in Maine is trying something new to help the next generation gain valuable work skills: a new charter school focused on the idea of work-based learning, designed to put students into the community and expose them to different kinds of jobs in their state. Plus: James Patterson has a new book out, and the villain is very familiar...
Donald Trump won the presidency in part on the idea that the United States isn't getting its fair share of the global economic pie. The slogan "America First" more or less boils down to protectionism. Now, the Trumpian approach to global trade might feel like a departure from recent history. But the American industrial economy has its roots in protectionism, all the way back to Alexander Hamilton. We'll talk about it in the second installment of our series "Trade Off." Plus, the latest on SoundCloud's financial troubles, and we try to fit a wild week of news into five minutes of live radio.
All three major stock indices fell today, and not a little bit either. And guess what: That's what's supposed to happen. We'll talk about it when we do the numbers. Then: The White House touted a huge deal between Wisconsin an Foxconn: 13,000 jobs in exchange for $3 billion in tax breaks. The state won't break even for more than 25 years, but these deals are becoming more and more common. Plus: Most undocumented immigrants who are deported are Latino men with jobs. That has a ripple effect on housing.
The headlines about fire and fury and escalation and threats and all that has happened the past 24 hours are alarming. No doubt about it. Without discounting the reality of what's going on, allow us to cut through the fear a little bit. Nothing in this economy reacts as viscerally to the news as the markets to. The bond market, in particular, is a refuge in times of uncertainty. And it's telling us to take a deep breath. We'll explain. Then: For the first time in 60 years, the U.S. is set to become a net exporter of natural gas. No we need to get the infrastructure up to speed. Plus: Go ahead, cut the cord, see if cable companies care.
We're starting the show tonight by doing the numbers of two crises facing the U.S. — and neither of them have to do with North Korea. First, we'll talk about the challenges of getting money to fight the opioid crisis, then why fighting climate change doesn't have to mean cutting economic growth. Of course, we'll also look at how markets reacted to President Trump's talk of raining "fire and fury" on North Korea (with a shrug). After that, we'll look at recent advertising campaigns focused on social issues, their risks and their rewards. Plus: How the decline of laundromats is changing U.S. cities.
A lot's changing about America's place in the global economy. NAFTA negotiations are starting next week in Washington, and President Trump has already withdrawn from the Trans-Pacific Partnership. In a lot of ways, it's the total opposite of the late '80s and early '90s, when opening things up was supposed to be the key to growth. We're kicking off our new series, "Trade Off," with a look at the dream of trade some 30ish years ago. Globalization had some much-hyped economic winners, but the losers were hit disproportionately hard. Plus: putting the recent sanctions against North Korea into perspective. Then: What would get people to stop using checks?