Economy
Generation Rent: Slamming Door Of Homeownership
Neal Coleman and his wife, Rachel, are both in their mid-20s and attend graduate school at Indiana University in Bloomington, Ind. They say renting makes more sense for them and their young daughter until their family is a bit more settled. Courtesy of Neal Coleman Kristi Taylor can pinpoint the precise moment she let go of the dream of homeownership.
Wisconsin Republican Gov. Scott Walker (right) celebrates his win over Democratic challenger Tom Barrett at Tuesday night's victory party in Waukesha, Wis. Morry Gash / AP For weeks now, we in the news business have been telling you how much the Scott Walker recall election in Wisconsin matters to the country as a whole. My colleague Ken Rudin, the Political Junkie with whom I share the weekly podcast version of It's All Politics , and I have both compared the Wisconsin recall effort to the Spanish Civil War that immediately preceded World War II. Both served as a kind of dress rehearsal for the larger conflagration to come.
Seven Ways Wisconsin's Recall Vote May Matter To You : It's All Politics
Slow economic growth in the U.S. is having an impact on many countries around the world. Here, people walk past a board flashing the Nikkei index on the Tokyo Stock Exchange in Japan last month. Toru Yamanaka / AFP/Getty Images The sputtering U.S. economy isn't just bad news for America, it's a drag on the global economic outlook as well.
Struggling U.S. Economy Drags Down The World
Horrid. Lousy. Awful.
'Lousy' News: Just 69,000 Jobs Added In May; Jobless Rate At 8.2 Percent : The Two-Way
Petros Giannakouris / ASSOCIATED PRESS A decade ago, investors thought Greece would flourish on the euro. Money poured in, and banks started lending it out.
A Front-Row Seat At A Bank Run : Planet Money
Europe's Crisis Threatens To Kill Global Economic Recovery, Experts Warn : The Two-Way
Unless leaders in Europe act quickly, the financial crisis there could drag down the global economy and kill what appears to be a "fragile, extremely uneven" recovery, the multi-national Organization for Economic Cooperation and Development warned today. In a stark report calling for action aimed at boosting and shoring up Europe's economies, OECD Chief Economist Pier Carlo Padoan warns that "the crisis in the euro zone remains the single biggest downside risk facing the global outlook." "Failure to act today could lead to a worsening of the European crisis and spillovers beyond the euro area," the report adds. The OECD calls on eurozone countries "to announce and commit to implement [economic and financial] reforms in a coordinated and parallel fashion, signalling enhanced coordination." The OECD also warns that the scheduled expiration of the so-called Bush tax cuts at the end of this year, combined with the end of "emergency unemployment benefits ...
Spain's Beloved Four-Day Weekends Are At Risk
People relax at a beach in Barcelona, Spain, on a Monday last summer. Many Spanish workers are upset that some traditional four-day holiday weekends might be scaled back to just three days. Manu Fernandez / AP
People walk past the Bank of Greece headquarters in Athens. Louisa Gouliamaki / AFP/Getty Images Euros are being drained out of Greek banks at a rate of up to $1 billion a day this week. In the wake of the country's election turmoil, depositors are nervous about the heightened possibility of a Greek exit from the euro. If that were to happen, euros left in Greek banks could be worth much less than euros outside the country. Former International Monetary Fund chief economist Simon Johnson believes that with the Greeks unable to form a government because of victories by anti-austerity parties, there's an 80 to 90 percent chance that the country will exit the euro.
'Dire Consequences' If Greece Exits Euro
On Jobs, Bad News Is Bad. The Good News Is Bad, Too
People wait in a line at a job fair on April 10, 2012, in Gresham, Ore. Employment grew by 115,000 last month, but the unemployment rate dip was likely due to people leaving the workforce rather than people getting hired, analysts say. Rick Bowmer / AP For the second month in a row, weak job growth numbers unsettled nerves in the White House and on Wall Street.
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