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
Jul 3, 2015
Demonstrators shout slogans during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015 Greece's European creditors were assessing a last-minute proposal Athens made for a new two-year rescue deal, submitted just hours before the country's international bailout program expires and it loses access to billions of euros in funds. (AP)

Overtime pay. Diplomatic ties with Cuba. Greece defaults. Iran deadline missed. Chris Christie jumps in. Our weekly news roundtable goes behind the headlines.

Jul 3, 2015
Harmonica master Howard Levy, in a photo dated February 2012. (Courtesy the Artist)

Harmonica virtuoso Howard Levy tears it up with us. From Bach to the blues.

RECENT
SHOWS
Jul 3, 2015
Harmonica master Howard Levy, in a photo dated February 2012. (Courtesy the Artist)

Harmonica virtuoso Howard Levy tears it up with us. From Bach to the blues.

 
Jul 3, 2015
Demonstrators shout slogans during a rally organized by supporters of the YES vote for the upcoming referendum in front of the Greek Parliament in Athens, Tuesday, June 30, 2015 Greece's European creditors were assessing a last-minute proposal Athens made for a new two-year rescue deal, submitted just hours before the country's international bailout program expires and it loses access to billions of euros in funds. (AP)

Overtime pay. Diplomatic ties with Cuba. Greece defaults. Iran deadline missed. Chris Christie jumps in. Our weekly news roundtable goes behind the headlines.

On Point Blog
On Point Blog
Our Week In The Web: July 3, 2015
Friday, Jul 3, 2015

We made a lot of last-minute programming changes these past few weeks, and you stuck around with us through it all. Thanks!

More »
Comment
 
Election 2016: Who Exactly Is Running For President?
Tuesday, Jun 30, 2015

Who is running for President, anyway? We attempt to help you figure it out.

More »
9 Comments
 
Our Week In The Web: June 19, 2015
Friday, Jun 19, 2015

Why our broadcast changed in different markets this week, and a closer look at a puppet theatre vandalism in rural Norway. (Really).

More »
Comment