How to Avoid a Recession
What Next | Daily News and Analysis
Slate Podcasts
4.3 • 2.4K Ratings
🗓️ 16 August 2019
⏱️ 18 minutes
🧾️ Download transcript
Summary
Did your heart skip a beat reading and hearing about all the economic news this week? Today on the show we explain just what’s happening in the markets and try to pin down why things are happening the way they are. Plus, we offer a few possible ways to stave off the worst of an economic downturn.
Guest: Jordan Weissmann, Slate’s senior business and economics correspondent
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Transcript
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| 0:00.0 | If you opened up the paper or turned on the TV this week, I wouldn't blame you for getting a little queasy, thinking, oh, God. |
| 0:13.2 | Fresh off that market meltdown with stocks plunging in one of their worst days all year, fears of a recession are rising. |
| 0:20.5 | The Washington Post said recession signals are intensifying. one of their worst days all year, fears of a recession are rising. |
| 0:24.6 | The Washington Post said recession signals are intensifying. |
| 0:27.9 | The New York Times warned of a global slowdown. |
| 0:32.7 | So we're due for recession, and I think there's some signs that we are going to head into one, but you can't. That's not to say we're going to have another version of the 2008 financial crisis. |
| 0:37.9 | How worried should Americans be right now about a recession? |
| 0:44.0 | Slate's Jordan Weissman covers the economy, and he says, don't panic. |
| 0:50.4 | The economy right now is right now at this moment is okay, right? Like, job growth is still good. Unemployment is still low. The economy right now is right now at this moment is okay, right? |
| 0:54.5 | Like job growth is still good. |
| 0:56.2 | Unemployment is still low. |
| 0:57.6 | The economy has been growing. |
| 0:59.9 | Growth has slowed a bit, but it's not like we're in a recession. |
| 1:03.8 | What people are afraid of is what's coming. |
| 1:05.8 | That's what everyone's looking six months a year down the road and saying, hey, I see warning signs. |
| 1:12.3 | And this week, all the alarms just got louder, right? |
| 1:16.0 | It's like instead of like one yellow sign flashing above, like one yellow light flashing |
| 1:22.3 | about the world, now they're their lights going off everywhere. |
| 1:24.7 | That's where we are. |
| 1:27.2 | Whenever Jordan comes into the studio, he likes to draw little graphs with his hands. |
| 1:32.2 | So I asked him to break down what happened this week by plotting it on an X, Y, axis. |
| 1:37.3 | Well, okay, so the graph that everyone is talking about is the Yolt curve, which I believe... |
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