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.
We’re told the country may default on some of its debt obligations if Congress fails to raise the debt ceiling. But default is such a general term -- what does it mean, exactly? The three men awarded the Nobel Prize in economics are all involved in pricing and stock market indices: Robert Shiller was co-creator of the Case-Shiller housing index; Eugene Fama was engaged in work on stock market price prediction and Peter Hansen helped develop methods of asset pricing. And, finally, it takes a lot of time – and money – to find the "perfect" plaintiff for a groundbreaking Supreme Court case, but it can make a difference.
Investors worldwide are selling their short-term government debt out of fear of a U.S. default. Why that could be disastrous. Meanwhile, there's been some colorful language used to describe the government shutdown. We take a look at the verbiage. Plus, refinancing has changed the way people buy and sell homes, but how is it affecting everyone in the long term? Also, why Safeway bowing out of the Windy City, how leaders in Silicon Valley are trying to increase diversity, and why not everyone’s thrilled about the idea of Chinese developers funding the rebuilding efforts for Britain’s Crystal Palace. And we wrap up the week with our Weekly Wrap.
Investors seemed pleased that politicians in Washington were discussing a plan, and that lawmakers from both parties met with President Obama.
As the government shutdown continues, we look at potential deals to fund the government and raise the debt ceiling. We speak with one small business owner to see how she's been affected by the shutdown. Meanwhile, Jenny Craig has helped people shed pounds over the years. But lately its profits have been slim. Now Nestle wants to lose it. Speaking of health, the Obamacare story has hit a new stage: TV and film. Also, a look at a new approach to credit, how to make a career as a short story writer, and and update to the situation in Egypt.
We're one day closer to the October 17th deadline for the U.S. government to either raise the debt ceiling or default on loans from a whole bunch of lenders. But a cadre of so-called “debt-limit deniers” says it’s no big whoop if the U.S. fails to raise its borrowing limit. That's not helping ease worries from America's two top foreign creditors -- China and Japan have warned the U.S. to be careful. Meanwhile, Janet Yellen is the nominee to be the next Federal Reserve chair. We ask Wall Street how they feel about that. Plus, in the latest installment of our "Americans Futures" series, The Atlantic’s Jim Fallows talks about about small towns that aren’t feeling the pain of the government shutdown. Also, stories on emergency philanthropy and Iowa's farmland.
There are reports that President Obama will nominate Janet Yellen as the next chair of the Federal Reserve on Wednesday.