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Economic woes being felt throughout the nation – and around the world




Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2011 in New York City.
Traders work on the floor of the New York Stock Exchange during morning trading on September 23, 2011 in New York City.
Daniel Berehulak/Getty Images

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Today we take a closer look at the financial mess brought on by a crumbling economy -- across the world and in the U.S – and what governments are doing to prevent a market meltdown.

Asian and European stocks spiraled downward this week, pulling the Dow Jones industrial average down almost 400 points. This may be the worst week since Wall Street’s meltdown a couple years ago, in 2008.

Officials everywhere are scrambling to breathe life back into dying economies. The Federal Reserve recently moved to lower interest rates – but it’s not enough to calm investors’ fears about a double-dip recession.

In a last-ditch effort to prevent a potential government shutdown, the House narrowly approved a GOP-authored short-term budget fix – which Democrats have vowed to reject. Meanwhile, interest rates on US Treasury bonds have hit lows not seen in decades. And did we mention the unemployment numbers? All of this has the nation asking, is there any end in sight?

WEIGH IN:

How should the situation be handled? Do you have a solution? How do you feel about the government's actions?

Guests:

Heidi Moore, Marketplace Radio New York Bureau Chief

Christopher Thornberg, Principal, Beacon Economics