Why we freak out when the stock market freaks out
Marketplace
Marketplace
4.6 • 8.5K Ratings
🗓️ 6 August 2024
⏱️ 29 minutes
🧾️ Download transcript
Summary
How are people feeling about the economy after the dramatic drop in stocks? They’re “Googling the word ‘recession’ like crazy,” an economics professor told us. On the show today: Why perception is so important in economics. Also: The not-so-bad reasons for the higher unemployment rate, what the Google antitrust ruling could mean for Big Tech, and stealth shopping — hiding purchases from partners — is on the rise.
Transcript
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| 0:57.0 | marketplace. |
| 0:59.0 | See, I told you the sky wasn't falling. |
| 1:04.0 | From American public media, August 6th. |
| 1:21.0 | Good to have you with us. |
| 1:22.0 | I hate to be so smug, especially since we can't predict |
| 1:25.9 | where markets will go from here, but we can tell you where they went today. They went up. Some |
| 1:31.9 | international ones bounced back to. Japan's Nike rose 10% today, making |
| 1:36.7 | up for a big chunk of yesterday's losses. And like I said, we don't know if the freak out is over, |
| 1:42.4 | but this morning at our editorial said, we don't know if the freak out is over, but this morning at our editorial meeting, |
| 1:44.9 | we did wonder if one big dip, just one, can affect how consumers feel about and interact with the economy. |
| 1:54.0 | Marketplace's Samantha Fields starts us off again today. |
| 1:57.0 | Want to get a sense of how people are feeling about the economy? |
| 2:01.0 | Take a look at how often they're googling recession. |
| 2:04.0 | That's one of Justin Wolford's favorite gauges anyway. |
| 2:06.6 | He's a professor of economics and public policy at the University of Michigan. |
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