Our Very Weird Economic Recovery
What Next | Daily News and Analysis
Slate Podcasts
4.3 • 2.4K Ratings
🗓️ 18 May 2021
⏱️ 24 minutes
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| 0:00.0 | Hey everyone, salty language ahead, but we're talking about the economy, so you know. |
| 0:10.2 | Jordan, can you choose an emoji for the economy right now? |
| 0:18.8 | Uh, the head exploding emoji, I think. I was gonna go with Lollsob. |
| 0:23.5 | No, I think the brain exploding. |
| 0:25.2 | The emoji is why? Um, because everyone's brain is kind of breaking as we're trying to figure out |
| 0:32.8 | what exactly is going on during this reopening process, which is, uh, economically it's a |
| 0:40.6 | becaotic right now. This chaos Jordan's talking about is mostly in the minds of people like him, |
| 0:47.1 | analysts whose job it is to issue some kind of judgment about the way money moves in this country. |
| 0:53.1 | They've got all kinds of metrics to measure the economy's growth, take the consumer price index. |
| 0:58.9 | It currently shows costs rising. The average price of a new car above $25,000. We've never seen that before. |
| 1:07.6 | Air fares, those are also going up. Just in there's the monthly jobs report. |
| 1:12.5 | The desk, we're gonna bring in the numbers right now. |
| 1:14.2 | And the answer is a giant miss, right? |
| 1:17.0 | It's only 266,000 jobs added in the period, which is a real disappointment for April. |
| 1:22.4 | You had economists looking for more like a million. |
| 1:24.8 | One thing you would expect to see is that as the vaccination rate rises, more people will go back to work, |
| 1:30.1 | right? You would see the jobs recovery kind of speed up. |
| 1:32.8 | Is that what we're seeing? Not really. |
| 1:35.2 | And so it's, at least as far as you can kind of tell from eyeball in the data. |
| 1:42.5 | You and I see when I look at how the numbers are being talked about generally, |
| 1:46.9 | I see so much impatience. And I just think it's really interesting, because I think there's an impatience |
| 1:54.8 | on all levels in our lives right now, and impatience to take our masks off, and impatience to |
... |
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