Money Talks: The home front
Money Talks from The Economist
The Economist
4.4 • 1.2K Ratings
🗓️ 31 March 2020
⏱️ 24 minutes
🧾️ Download transcript
Summary
At the beginning of a financial year like no other, millions of newly furloughed or unemployed Americans face rent and mortgage payments. How long can the financial system withstand the strain caused by the coronavirus pandemic? Many employees have had to make a quick transition to remote working. Businesses struggling to make the switch could look to those companies that have never had an office. And, a day in the life of Bartleby—and his cat. Rachana Shanbhogue hosts.
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Transcript
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| 0:00.0 | Attention at all passengers. You can now book your train tickets on Uber and get 10% back in Uber credits to spend on your next train journey. |
| 0:11.0 | So no excuses not to visit your in-laws this Christmas. |
| 0:16.5 | Trains now on Uber. T's and C's apply check the Uber app. You're listening to Money Talks on Economist Radio, our weekly podcast on the world of business. |
| 0:32.4 | I'm Ratch Neshan Bog, the economist finance editor. |
| 0:35.5 | And this week we're looking at how the coronavirus pandemic is disrupting the home front. |
| 0:43.0 | Only about a third of American workers can effectively work from home and they earn about 45% of America's wages. |
| 0:51.0 | We'll meet some of the firms that were born ready for the remote revolution. |
| 0:55.0 | The whole world is going to have to learn to embrace remote work now. |
| 0:58.0 | You know, world 1.0 is over. World 2.0 is coming. |
| 1:01.0 | Will this experience change working life forever? |
| 1:04.6 | Few of the companies I talk to, they have optional offices. |
| 1:07.0 | You can come in if you feel lonely or if you have a special project. |
| 1:10.5 | And a day in the life of our Bartleby columnist on why merging home and work is not so easy. |
| 1:16.0 | Start to miss regular meetings, a concept previously beyond imagination. |
| 1:30.0 | The beginning of April marks the start of a new tax year. But with the outbreak of COVID-19, this is a year like no other. In America, in the week to March 21st, |
| 1:38.1 | a record 3.28 million people filed for unemployment benefits. On Monday, Macy's, America's biggest |
| 1:45.8 | department store, announced it was furloughing 130,000 staff. Many people still |
| 1:51.7 | working are being asked to work from home, but chaos in the jobs market is |
| 1:56.3 | spilling over into housing insecurity. |
| 1:59.5 | On the 1st of April, rent, mortgage payments and bills |
| 2:03.0 | for due nationwide. |
| 2:04.9 | It should also be payday. |
... |
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