In This Economy?

On the Media

WNYC Studios

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4.6 • 8.7K Ratings

🗓️ 22 July 2022

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

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Summary

Gas prices are coming down. Inflation is still going up. Jobs are strong, yet recession fears abound. This week, On the Media dives into the contradictory mess of money news – and what it ultimately says about us.

1. John Cassidy [@JohnCassidy], staff writer at the New Yorker, on why Americans feel gloomy about the economy, even when it isn't affecting their spending. Listen.

2. Rani Molla [@ranimolla], senior data reporter at Vox's Recode, on the data behind today's weird job market. Listen.

3. Felix Salmon [@felixsalmon], chief financial correspondent at Axios, on the power of the price of gas. Listen.

4. Mark Blyth [@MkBlyth], professor of International Economics and Public Affairs at Brown University, on how the economy is ultimately a mirror of our accomplishments, advances, fears, and mistakes. Listen.

Transcript

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0:00.0	On this week's on the media, the steaming called
0:03.5	Rhinocontradictory facts and feelings about the economy.
0:07.3	Inflation, rate hikes and market uncertainty,
0:10.0	a deepening recession phase.
0:11.7	Americans want to know when we'll see some relief.
0:14.3	We haven't experienced this sort of inflation since the early 1980s,
0:18.5	unless you're 50 or older, you basically don't have any memory of this sort of thing,
0:22.7	and I think it's come as a big shock to everyone.
0:24.6	One of the hallmarks of a recession would be low employment demand,
0:29.0	but that's absolutely not what we're seeing.
0:31.3	Brooke, you've used the word recession eight million times in this interview.
0:35.3	This is how the media contributes to the vibe that we're inter-recessional could be going into.
0:41.1	Do you remember, like, maybe 10, 15 years ago,
0:43.6	what happened is you get together with your friends in a nice summer night,
0:46.8	and then the point was to crack each other up.
0:49.5	And now when we get together, we all sit around and we go,
0:52.6	some good vibes and bad after this.
1:00.4	From WNYC in New York, this is on the media.
1:03.5	I'm Brooke Gladstone.
1:05.4	Recently in the Atlantic, Derek Thompson wrote a piece called
1:09.2	The Everything is Weird Economy.
1:12.1	Don't you feel it?
	...

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