Wealth & Poverty

Ways to Connect

Sam Sanders, the host of a show called It's Been a Minute, came to us with a question.

Everybody says we shouldn't pay attention to the stock market if we want to know what's going on in the economy. So, Sam wanted to know, what should we pay attention to?

Jobs.

On today's show: What our three favorite jobs numbers tell us about the state of the economy.

Brian Krebs, a journalist and cybersecurity expert, recently published this list. It has hundreds of company names, in alphabetical order. And next to each name is a price.

This list comes from a site on the dark web where people buy and sell stolen usernames and passwords. It's a price list.

On today's show, we talk to Krebs about this list, and what it tells us about the market for your stolen passwords.

President Trump talks a big talk about protectionism and tariffs. So far, there hasn't been much action. But this week, a new tariff does kick in — one that makes it more expensive to import solar panels. President Trump also recently announced a new tariff on washing machines.

The story of these tariffs begins years ago — with policies that President Obama put in place. We dig into where they came from, and what effect they're likely to have on the economy.

As promised, here are the sources for this episode:

Note: Today's show originally ran in January 2012.

In 1978, a group of farmers in a Chinese village called Xiaogang wrote a secret contract and hid it in the roof of a mud hut.

They were afraid the document might get them executed. Instead, it wound up completely transforming the Chinese economy.

On today's show, we travel to Xiaogang, and hear the farmers' story.

Dow De Ching

Feb 6, 2018

On today's show: Michael Batnick of Ritholtz Wealth Management explains why the last few days in the stock market were normal market behavior. Also: Why the stock market drop is good for lots of people, and largely irrelevant for even more.

Music by Drop Electric. Find us: Twitter/ Facebook.

A few years ago, Wells Fargo got in trouble for opening millions of accounts for its customers without their permission. Hundreds of thousands of people lost money and saw their credit scores drop.

On Friday, the Federal Reserve dropped a bomb. It said Wells Fargo would not be allowed to grow until further notice.

On today's show: Matt Levine of Bloomberg View explains why this is a big deal — and why other banks are likely to notice.

red & black

This month on Nothing Funny About Money, Matt & Michael discuss various options for limiting student debt by paying for college while you are actually IN COLLEGE!

There is a huge economy surrounding the Super Bowl. And nowhere is this more visible than in one crazed market: ticket sales. Usually, the game is a bonanza for professional ticket salesmen.

But the 2015 Super Bowl was different.

Two weeks before the big game, the Super Bowl market collapsed, catastrophically. Brokers went belly up. Tickets vanished. And companies had to spend millions of dollars to reimburse a lot of angry fans. What happened? Today on the show, we try to figure it out.

The monthly jobs report is out. The headline numbers tend to bounce around a lot, so today on the show, we take the long view. We look at three groups that got hammered especially hard during the recession and ask: How are they doing now?

Those groups are:

People who are working part time but want to be working full time:

African-American workers:

High-school graduates who did not go to college:

The U.S. added 200,000 jobs in January, continuing the trend of steady job growth for another month, the Bureau of Labor Statistics reported on Friday.

That means the economy has now added jobs for 88 months in a row. And, significantly, wages are on the rise, too.

Average hourly earnings rose by 9 cents to $26.74, with a year-over-year growth of 2.9 percent — the highest rate of growth the BLS recorded since June 2009.

The unemployment rate held steady at 4.1 percent.

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