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Marketplace All-in-One

Can shame deter the ultra wealthy from using offshore accounts?

Marketplace All-in-One

Marketplace

News, Business

4.51.4K Ratings

🗓️ 19 September 2024

⏱️ 9 minutes

🧾️ Download transcript

Summary

Earlier this week we explored the offshore financial system, where foreign companies and wealthy individuals can stash their wealth under especially favorable financial conditions. Today, we’re hearing about ways to discourage the ultra wealthy from hiding their cash offshore. Turns out good ol’ shame may hold some answers. But first, we examine how rate cuts might affect the housing market. Plus, who’s going to foot the bill for the Francis Scott Key Bridge?

Transcript

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0:00.0

Hi I'm Kai Rizdahl the host of How We Survive

0:03.4

It's a podcast from Marketplace. In 1986, before I was a journalist, I was flying for the Navy.

0:09.6

Mr. Gorbachev, tear down this wall.

0:14.4

It was the cold war and my first deployments were intercepting Russian bombers.

0:18.6

Today though, there's another threat out there, climate change.

0:22.6

This could be the warmest year on record.

0:24.6

Climate change is here.

0:25.7

Temperatures here are warming faster than anywhere on Earth.

0:29.5

And while the threat seems new, the Pentagon's been funding studies on climate change since the 1950s.

0:35.9

I think we will put our troops and our forces at higher risk if we don't recognize the impact of climate change.

0:44.7

This season, we go to the front lines of the climate crisis

0:47.5

to see how the military is preparing for the threat.

0:51.0

Listen to how we survive, wherever you get your podcasts.

0:56.6

How might rate cuts affect the housing market?

1:00.4

From Marketplace, I'm Sabrie Benashoreore, in for David Brancaccio.

1:03.6

In August, the number of new homes just starting to be built surged.

1:07.6

It was up almost 10% from the month before.

1:10.0

And then yesterday, the Fed cut interest rates by a half a point, interest rates that can influence

1:15.1

mortgages.

1:16.1

So what does this all mean for the housing market?

1:19.7

Diane Swank is chief economist, the audit tax and advisory firm KPMG and joins us to talk about it.

1:24.1

Hi Diane.

...

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