Simply Economics

Economic Growth vs. Public Perception: A Pre-Election Analysis

As the U.S. economy shows a 2.8% GDP growth, a disconnect emerges between economic indicators and public sentiment. We explore how this resilient growth could influence voter behavior in the upcoming election. Additionally, we discuss the disappointing job growth of only 12,000 in October, the implications of rising mortgage rates, and the importance of economic freedom in shaping better living conditions. Join us for a comprehensive look at the current economic landscape and its impact on everyday Americans.Sources:https://www.sentinelsource.com/business/us-economic-growth-the-envy-of-the-world-except-the-us/article_c898a928-97ee-11ef-bf9d-7ffe1e19912e.htmlhttps://www.foxbusiness.com/economy/us-jobs-report-october-2024https://reason.com/?p=8302991https://finance.yahoo.com/video/mortgage-rates-rise-strong-economic-203739857.htmlOutline:(00:00:00) Introduction(00:00:40) US economic growth the envy of the world, except the US(00:03:41) US economy added 12,000 jobs in October, well below economists' expectations(00:06:31) Countries with economic freedom are far better off(00:09:32) Mortgage rates rise on strong economic data ahead of the election

Consumer Spending Surges Amid Rising Borrowing Costs and Economic Uncertainty

In this episode, we explore the latest consumer data revealing that expenses grew faster than income in September, raising concerns about financial sustainability. We also discuss the implications of rising mortgage rates on the housing market as economic data influences the Federal Reserve's decisions. Additionally, we analyze the impact of the UK Labour government's tax-raising budget on borrowing costs and investor confidence, as well as the fears surrounding Chancellor Reeves' fiscal policies. Join us for a comprehensive look at how these economic trends affect everyday lives and future financial strategies.Sources:https://www.pymnts.com/economy/2024/latest-consumer-data-shows-expenses-grew-faster-than-income-september/https://finance.yahoo.com/video/mortgage-rates-rise-strong-economic-203739857.htmlhttps://www.cnbc.com/2024/10/31/uk-borrowing-costs-soar-day-after-labours-tax-raising-budget-.htmlhttps://www.telegraph.co.uk/business/2024/10/31/borrowing-costs-surge-stocks-tumble-fears-debt-binge-reeves/Outline:(00:00:00) Introduction(00:00:42) Latest Consumer Data Shows Expenses Grew Faster Than Income in September(00:02:50) Mortgage rates rise on strong economic data ahead of the election(00:04:58) UK borrowing costs soar day after Labour government unveiled tax-raising budget(00:07:59) Borrowing costs surge and stocks tumble over Reeves debt binge fears

UK’s Bold Budget: High Taxes and Economic Gamble

Prime Minister Keir Starmer's government unveils a historic budget, raising taxes by £40 billion in a bid to stimulate growth and enhance public services. This episode explores the implications of this significant fiscal shift, the challenges ahead for the Labour government, and whether this budget can truly transform the UK economy. Join us for an in-depth analysis of the potential risks and rewards of this ambitious economic strategy.Sources:https://www.politico.eu/article/britain-budget-tax-increase-growth-rachel-reeves-keir-starmer-uk-labour-party-treasury/https://www.theguardian.com/commentisfree/2024/oct/31/rachel-reeves-labour-budget-willing-spend-two-dangershttps://www.forbes.com/sites/lbsbusinessstrategyreview/2024/10/30/will-the-uk-budget-2024-boost-economic-growth/https://www.economist.com/leaders/2024/10/30/the-british-budget-combines-large-numbers-and-a-narrow-visionOutline:(00:00:00) Introduction(00:00:43) Britain cranks up taxes by £40B and gambles on growth(00:04:39) The British budget combines large numbers and a narrow vision

Tariffs, Recession Risks, and Economic Plans: What Lies Ahead?

A recent IMF study warns that increased tariffs could lead to a global economic decline, with significant implications for the U.S. economy. Meanwhile, community leaders predict a 53% chance of recession, highlighting rising unemployment and inflation concerns. We also examine the contrasting economic plans of Donald Trump and Kamala Harris, exploring how their policies could impact inflation and the cost of living. Join us as we unpack these critical economic issues shaping our future.Sources:https://reason.com/?p=8302652https://gcaptain.com/labor-drama-or-economic-boom-whats-really-fueling-the-surge-in-u-s-container-imports/https://www.times-georgian.com/times_georgian/community-leaders-claim-53-chance-of-recession/article_e5e48d56-175b-54ab-ba84-b0738f69288e.htmlhttps://www.pbs.org/newshour/show/examining-how-economic-plans-from-trump-and-harris-could-affect-inflationOutline:(00:00:00) Introduction(00:00:43) Increase in tariffs would trigger global economic decline, study finds(00:03:27) Labor Drama or Economic Boom? What’s Really Fueling the Surge in U.S. Container Imports(00:05:45) Community leaders claim 53% chance of recession(00:08:41) Examining how economic plans from Trump and Harris could affect inflation

Nigeria’s Economic Reforms: Who Bears the Burden?

At Nigeria's Economic Summit, World Bank Chief Economist Indermit Gill warns that economic reforms may take over a decade to show results, leaving ordinary citizens to face the brunt of austerity measures. This episode explores the implications of these reforms, the need for actionable solutions, and the accountability of the government in addressing systemic issues. We also discuss the broader economic landscape, including gold price movements and the upcoming economic data that could impact financial decisions.Sources:https://businessday.ng/editorial/article/the-burden-of-reform-who-pays-the-price-in-nigeria/https://www.fxstreet.com/analysis/gold-price-forecast-xau-usd-extends-range-play-awaiting-key-us-economic-data-202410290157https://www.timeshighereducation.com/news/nobel-economist-simon-johnson-big-tech-doesnt-our-ideashttps://www.inforum.com/news/moorhead/professor-to-speak-at-concordia-about-the-economics-of-immigrationOutline:(00:00:00) Introduction(00:00:41) The burden of reform: Who pays the price in Nigeria?(00:04:17) Gold Forecast: XAU/USD extends range play, awaiting key US economic data(00:06:54) Professor to speak at Concordia about the economics of immigration

Global Economic Shifts: IMF Cuts Growth Forecast Amid Political Tensions

The IMF has lowered its global growth forecast, citing rising geopolitical tensions and trade protectionism. Meanwhile, Canada cuts interest rates, signaling a shift in the post-pandemic economy. We explore how these trends affect local economies and investment strategies, while also addressing the implications for poverty reduction and climate change initiatives. Join us for an in-depth analysis of the current economic landscape and what it means for the future.Sources:https://theedgemalaysia.com/node/731795https://businessday.ng/editorial/article/the-burden-of-reform-who-pays-the-price-in-nigeria/https://www.thecentersquare.com/national/article_9a42e21c-9494-11ef-b525-af28ea231b9a.htmlhttps://www.salon.com/2024/10/26/what-the-teaches-us-about-the-economy/Outline:(00:00:00) Introduction(00:00:40) Charting the global economy: IMF lowers global growth forecast(00:02:48) The burden of reform: Who pays the price in Nigeria?(00:06:36) Everyday Economics: Higher market volatility ahead, but keep calm and carry on(00:10:01) What the election teaches us about the economy

Election Economics: Candidates’ Policies and Their Impact on America

As the 2024 presidential race intensifies, we analyze the economic implications of candidates' proposals, focusing on the contrasting visions of Vice President Kamala Harris and former President Donald Trump. We also delve into a new report on the economic costs of climate change for Oregonians, the contentious U.S. Steel acquisition by Nippon Steel, and the heated debate over raising the minimum wage in West Virginia. Join us for a comprehensive look at how these issues shape the future of the American economy.Sources:https://www.salon.com/2024/10/26/what-the-teaches-us-about-the-economy/https://ktvz.com/news/environment/2024/10/26/new-economics-forum-issues-first-look-report-as-it-aims-to-tally-the-costs-of-climate-change-for-oregonians/https://www.startribune.com/ramstad-iron-range-watches-closely-as-us-steel-deal-runs-into-economic-nationalism/601170112https://www.wvnews.com/news/wvnews/west-virginian-economists-and-business-leaders-weigh-in-on-increasing-the-minimum-wage/article_e40552ba-9244-11ef-8078-13d1d50c4d54.htmlOutline:(00:00:00) Introduction(00:00:44) What the election teaches us about the economy(00:03:43) New economics forum issues 'first look' report as it aims to tally the costs of climate change for Oregonians(00:07:06) Ramstad: Iron Range watches closely as U.S. Steel deal runs into economic nationalism(00:07:58) West Virginian economists and business leaders weigh in on increasing the minimum wage

Wyoming’s Economic Outlook: Voter Concerns Ahead of Election

As Wyoming approaches the November election, economic issues are at the forefront for voters. This episode explores the sentiments of Casper residents regarding affordable housing, rising grocery costs, and the future of energy jobs. Expert analysis from Anne Alexander sheds light on potential growth despite challenges, making this a crucial listen for understanding the economic stakes in the upcoming election.Sources:https://www.yourwyominglink.com/homepage/a-look-at-wyomings-economic-landscape-before-the-election/article_a23d5dfc-9319-11ef-973b-bbf6c14b41fd.htmlhttps://www.msnbc.com/rachel-maddow-show/maddowblog/trump-flunks-economics-101-latest-promises-taxes-trade-rcna177310https://www.aei.org/economics/keeping-america-in-the-lead-for-science/https://www.executive-magazine.com/economics-policy/crisis-or-opportunityOutline:(00:00:00) Introduction(00:00:41) A Look at Wyoming's Economic Landscape Before the Election(00:03:19) Trump flunks Economics 101 with latest promises on taxes, trade(00:06:04) Keeping America in the Lead for Science(00:08:58) Crisis or Opportunity?

Germany’s Economic Crisis: Reform Needed, Global Conflicts Threaten Recovery

Germany faces economic contraction as misguided policies hinder its industry. Meanwhile, Australian Treasurer Jim Chalmers warns that escalating global conflicts pose a significant threat to economic recovery worldwide. The World Bank introduces a new strategy to enhance economic opportunities for women, while Indiana's gubernatorial candidates debate critical issues impacting the state's future. Join us for a comprehensive analysis of these pressing economic challenges and their implications for the global landscape.Sources:https://www.gisreportsonline.com/r/germany-economics-costs-stagflation/https://www.smh.com.au/politics/federal/global-bloodshed-biggest-threat-to-economic-recovery-chalmers-20241024-p5kl1w.htmlhttps://www.cnbc.com/2024/10/25/world-bank-rolls-out-new-strategy-to-boost-economic-opportunities-for-women.htmlhttps://abc7chicago.com/post/2024-election-indiana-governor-candidates-jennifer-mccormick-mike-braun-donald-rainwater-debate-abortion-ban-economics/15466415/Outline:(00:00:00) Introduction(00:00:41) Germany’s economic policies ruin its industry GIS Reports(00:02:57) Global bloodshed biggest threat to economic recovery: Chalmers(00:06:46) World Bank rolls out new strategy to boost economic opportunities for women(00:10:24) Indiana governor candidates debate abortion ban, economics ahead of 2024 election

Dueling Economic Visions: Harris vs. Trump Ahead of 2024

As Election Day approaches, Vice President Kamala Harris and former President Donald Trump present starkly different economic plans. Harris advocates for targeted tax credits funded by increased corporate taxes, while Trump pushes for broad tax cuts and tariffs. This episode analyzes the implications of their proposals on inflation and budget deficits, providing voters with essential insights into the economic challenges ahead. Additionally, we explore Saudi Arabia's anticipated economic growth, the recovery of European industry, and Singapore's promising economic outlook over the next five years.Sources:https://www.kcci.com/article/presidential-candidates-push-economic-plans-ahead-of-election-day/62697383https://oilprice.com/Latest-Energy-News/World-News/Saudi-Economy-Set-for-Strongest-Growth-in-Years-Amid-OPEC-Supply-Boost.htmlhttps://www.oxfordeconomics.com/resource/european-industry-will-bottom-out-and-recover-eventually/https://www.thailand-business-news.com/economics/170055-singapores-economic-outlook-over-the-next-five-yearsOutline:(00:00:00) Introduction(00:00:43) Presidential candidates push economic plans ahead of Election Day(00:03:18) Saudi Economy Set for Strongest Growth in Years Amid OPEC+ Supply Boost(00:06:09) European industry will bottom out and recover…eventually(00:08:17) Singapore's Economic Outlook Over the Next Five Years