PLEDGE NOW
A Global Economic Stall?

Fear of stall-out in the world economy. We’ll look at what comes next.

In this Friday, June 1, 2012, file photo, Raul Rodriguez sweeps the trading floor of the New York Stock Exchange. The global economy’s foundations are weakening, one by one. The global economy's foundations are weakening, one by one. Already hobbled by Europe's debt crisis, the world now risks being hurt by slowdowns in its economic powerhouses. (AP)

In this Friday, June 1, 2012, file photo, Raul Rodriguez sweeps the trading floor of the New York Stock Exchange. The global economy’s foundations are weakening, one by one. The global economy's foundations are weakening, one by one. Already hobbled by Europe's debt crisis, the world now risks being hurt by slowdowns in its economic powerhouses. (AP)

It seemed again like maybe we were finally getting economic traction.  A slow but steady lift-off.  More jobs.  More hope.  Despite Europe.  Despite everything.  Then came Friday.  The jobs report – a bust.  The Dow, down 275 points and the market into red for the year.  China’s outlook, sagging.  India’s sagging.  And Europe’s not-so-slow-motion meltdown, positively terrifying.

This is no one’s happy rebound.  Far from it.  Investors are scrambling for shelter.  And if you’ve been out of work, watch out.

This hour, On Point:  Fear of a new stall-out in the world economy.  We’re trying to look ahead.

-Tom Ashbrook

 

Guests

Allen Sinai, chief global economist at Decision Economics.

Ken Rogoff, professor of public policy and economics at Harvard University. He’s the author of a new book, This Time is Different: Eight Centuries of Financial Folly.

From Tom’s Reading List

CNBC “June is picking up right where May left off — with a string bad economic news that is among the worst the market has ever seen.”

Wall Street Journal “Germany is sending strong signals that it would eventually be willing to lift its objections to ideas such as common euro-zone bonds or mutual support for European banks if other European governments were to agree to transfer further powers to Europe.”

Project Syndicate “The European Union is a voluntary quasi-federation of sovereign and democratic states in which elections matter and each country seeks to determine its own destiny, regardless of the wishes of its partners. But it should now be apparent to everyone that the eurozone was designed with a very different institutional arrangement in mind. Indeed, that design gap has turned out to be a major source of the monetary union’s current crisis.”

Photo: Rogoff and Sinai in Studio

Economists Ken Rogoff and Allen Sinai in studio (Josh Berlinger/WBUR)

Economists Ken Rogoff and Allen Sinai in studio (Josh Berlinger/WBUR)

Please follow our community rules when engaging in comment discussion on this site.
ONPOINT
TODAY
May 22, 2015
Crashed cars with airbags deployed are shown to visitors as part of the display of Toyota Motor Corp.'s safety performance standards at the automaker's exhibition hall in Toyota, central Japan. (Shuji Kajiyama/AP)

ISIS rolls on. A TPP vote. Biggest recall ever – airbags. And Letterman’s last bow. Our weekly news roundtable goes behind the headlines.

May 22, 2015
The Barden Bellas, the all-female a cappella group at the center of Pitch Perfect 2. (Richard Cartwright/Universal Pictures via AP)

Pitch Perfect 2 is the number one movie in the country, and it’s over the top on a capella.

RECENT
SHOWS
May 22, 2015
The Barden Bellas, the all-female a cappella group at the center of Pitch Perfect 2. (Richard Cartwright/Universal Pictures via AP)

Pitch Perfect 2 is the number one movie in the country, and it’s over the top on a capella.

 
May 22, 2015
Crashed cars with airbags deployed are shown to visitors as part of the display of Toyota Motor Corp.'s safety performance standards at the automaker's exhibition hall in Toyota, central Japan. (Shuji Kajiyama/AP)

ISIS rolls on. A TPP vote. Biggest recall ever – airbags. And Letterman’s last bow. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
A Former Bike Gang Member Explains "The Life"
Tuesday, May 19, 2015

Larry called in from Lawrenceburg, KY and told us he was once a member of the Pagan’s Motorcycle Club, a mid-Atlantic biker gang. He didn’t sugar coat the facts as he explained the draw of the brotherhood and what makes the outlaw motorcycle corner the underworld go round.

More »
Comment
 
Our Week In The Web: May 15, 2015
Friday, May 15, 2015

We cancel a few hours and suddenly all of you get convinced of a global radio conspiracy! Plus, dragon zoos.

More »
1 Comment
 
Caller: ‘It Doesn’t Always Turn Out Okay’
Wednesday, May 13, 2015

One caller shares her own story of an extremely premature birth. Her daughter, born at 22 1/2 weeks in 2012, was taken off life support after seven days.

More »
Comment