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.
Reports say the House and the Senate may have reached a deal -- and a process -- to avoid a default on U.S. debt and the reopening of the government. But when the federal government reopens its doors, the pent-up demand for government services may be huge. From fishermen needing permits to farmers applying for compensation for deceased cattle, there will be a line around the block. Also, Twitter is out with more numbers about how it makes money, which includes picking up a fee everytime a user refreshes. How much is a refresh worth?
How a deal that delays the debt ceiling fight until Jan. 15 sets up a new fight on the sequester.
Republicans in the House and Senate are debating what exactly should be in a deal to find a way out of the debt ceiling and shutdown mess. Still, any delay would set up a new fight on the sequester. And while most Americans are worried about what might happen if the U.S. defaults on its debt obligations on Thursday, many argue the damage has already been done. Finally, Northwestern will hold its first peanut-free football game – in deference to those with peanut allergies.
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.