Thursday, August 11
Financial Turmoil's Effect On Global Markets, National Politics
In the week since S&P downgraded the U.S.'s debt, the stock market has been down as much as 800 points and continues to gyrate wildly. Today we ask - what is causing the panic and uncertainty? Is the volatility here to stay? And is it justified? Plus - where does the real problem lie? In Europe? In America's debt obligations? In our budget? And is there anything politicians can do to help the economy - and boost jobs? We also ask who is addressing the issue more effectively: President Obama or his Republican opponents? And what will the new, so-called Super Congress be able to achieve? We’re joined by Richard Parker, an Oxford-trained economist and senior fellow and lecturer at the John F. Kennedy School of Government at Harvard University; Jeffrey Frankel, a member of the Business Cycle Dating Committee at the National Bureau of Economic Research; and by the National Journal’s Jim O’Sullivan.