Rises and false: markets v the economy
Economist Podcasts
The Economist
4.3 • 5K Ratings
🗓️ 8 May 2020
⏱️ 22 minutes
🧾️ Download transcript
Summary
How can stockmarkets be so healthy when many businesses are so unwell? We look at the many risks that are clearly not priced in. China’s documentary-makers are having to find clever ways to get past censors—which is why one famed filmmaker is just giving his work away online. And remembering a legendary rock-climber who always wanted to find a new way up.
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Transcript
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| 0:00.0 | Hello and welcome to the intelligence on Economist Radio. I'm your host, Jason Palmer. |
| 0:09.1 | Every weekday, we provide a fresh perspective on the events shaping your world. |
| 0:17.4 | China's documentary makers don't have it easy. Sensors are clamping down more and more. |
| 0:22.6 | Without their okay, films go nowhere. |
| 0:25.6 | Stories abound of devious ways that documentaries are distributed, |
| 0:29.6 | but one famous filmmaker is simply giving his away online. |
| 0:33.6 | And during the week, Joe Brown was a builder and plasterer. |
| 0:38.6 | At weekends, he made himself an internationally renowned climber, tracing out new routes to famous peaks. |
| 0:45.1 | Our obituaries editor looks back on a life lived at ever greater heights. |
| 0:56.0 | But first... Yesterday, for the seventh straight week, a record number of Americans filed for unemployment. |
| 1:03.0 | More than 33 million people have now applied for benefits since mid-March, totaling a fifth of the workforce. |
| 1:10.0 | From coast to coast tonight, the faces of a deeply personal unemployment crisis. |
| 1:14.6 | All right, the breaking news, a record shattering. |
| 1:17.6 | 6.6 million Americans filed by us. |
| 1:20.6 | 20,000 jobs were lost in the month of April. |
| 1:23.6 | All the bills are coming and they're calling me and I have no money to pay for that. But if you looked at the stock market, you could be forgiven for wondering if investors have just missed the news. |
| 1:32.8 | If you take a look at the month of April, the Dow and the S&P are looking at their best month since 1987. |
| 1:39.3 | Today's gains make it official. The NASDAQ is pretty much flat on the year. So kudos to the market and people that still believe in it. |
| 1:47.0 | It's a long way from March when America's markets dropped by a third. |
| 1:51.0 | The stock markets in the US is actually higher than it was in August last year, |
| 1:56.0 | which really if you take a step back is incredible because it seems to suggest that the pandemic |
| 2:01.3 | and really the most severe economic slump in modern history, it appears to suggest none of |
... |
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